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Income
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EconomyMacroeconomy
Union report sums up grim state of wages, policy shortcomings The latest annual report by Greece’s largest union, GSEE, captures the grim picture regarding wages in Greece and the spending power of workers.
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EconomyMacroeconomy
Wage index continues to rise in Q1 with 5.9 pct YoY growth Greece’s seasonally adjusted (SA) Wages Index grew by 5.4 percent year-on-year (YoY) in Q1, from 5.8 percent in the last quarter of 2024, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
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EconomyMacroeconomy
Government hails rising wage data, but full picture tells more complex story The issue of wages resurfaced in the public debate last week after the government launched a communication offensive and briefed the Greek media that, based on Eurostat data, incomes in Greece have significantly improved.
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PoliticsGreek Politics
Government commits to uniformed personnel pay rises amid clamour for higher incomes Prime Minister Kyriakos Mitsotakis has been forced to commit to pay rises for all uniformed personnel after leading ministers and numerous New Democracy MPs called for those serving in the police, coast guard and fire service to be awarded more pay following the recent announcement of wage increases for the armed forces.
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Economy
Moody's upgrade underlines gap between economic story and reality for households The recent upgrade of Greece’s credit rating by Moody’s to investment grade highlighted the difficulties that Kyriakos Mitsotakis and his administration have had in building traction for the government’s economic record with the Greek public.
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EconomyMacroeconomy
Seasonality drives wage index up by 4.9 pct YoY in Q4 Greece’s seasonally adjusted (SA) Wages Index resumed growth in Q4, rising by 4.9 percent year-on-year (YoY), from 1.3 percent contraction in the third quarter of 2024, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
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EconomyMacroeconomy
New data shows rise in average wage, but overall impact limited The Labour Ministry released recently the latest annual report for 2024 based on data on its Ergani system that maps out the earnings landscape for wage earners in the private sector in Greece.
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PoliticsGreek Politics
Government pledges more reforms, but economy set to prove deciding factor in 2025 After suffering a more turbulent year than it expected, the government is aiming to regain its footing in 2025 by returning to the reform agenda that served as the flagship of its first term in office. However, its record regarding the performance of the Greek economy will likely be the factor that determines whether New Democracy enjoys a better year or not.
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EconomyMacroeconomy
Wage index drops by 1.7 pct YoY in Q3 for first decline in two years Greece’s seasonally adjusted (SA) Wages Index went in contraction in Q3, dropping by 1.7 percent year-on-year (YoY), from 7.3 percent growth in the second quarter of 2024, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
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Economy
Latest data highlights tough day-to-day economic conditions, giving opposition ammunition Political developments are putting more pressure on the government to deliver tangible economic results.