Wage Decline: 32.8% Loss in 15 Years in Greece

Real wages in Greece have significantly decreased over the past 15 years, according to the annual report by the Institute of Labor of GSEE.

32.8% Reduction: The average real earnings of employees have fallen by 32.8% from 2009 to 2024.

European Comparison: In 2024, the average annual real wage in Greece is only 52% of the European average, compared to 82.5% in 2009.

Income Inequality: Between 2019 and 2023, the increase in real income from non-wage labor and wealth was significantly greater than the increase in real wages.

Productivity vs. Wages: While labor productivity increased by 1.2% between 2019 and 2024, the real hourly wage decreased by 4.7%.