x

Economy

Low-Paid Greeks Finally Got Raises in 2023, Construction Workers Lead Way

March 20, 2024

ATHENS – Among the lowest-paid workers in the European Union and European Economic Area (EEA), with an average income of €24,371.27 ($26,482), Greek workers in 2023 received some raises, despite the public sector being constrained during the 2010-2018 economic and austerity crisis.

A review by the country’s statistics agency, ELSTAT, revealed significant increases in construction wages but not for those in the tourism sector. This sector, at its peak, employed nearly a million people but experienced a workforce exodus post-pandemic as individuals sought better-paying opportunities.

The ELSTAT index for wages and salaries showed annual increases of 3.8-24.7% across various sectors for 2023 compared to 2022, when COVID-19 health restrictions were lifted to attract tourists—a strategy that succeeded, according to the business paper Imerisia.

Most sectors of the economy saw pay hikes, some in double digits, as the economy rebounded more swiftly from the financial crisis and pandemic, buoyed by tourism and the New Democracy government’s success in attracting more foreign investors.

In the tourism sector, both the hours worked and the number of employees declined, as hotels, restaurants, tavernas, and others couldn’t find sufficient staff, dropping 18.6% and 19.5% respectively. This labor shortage is expected to persist even as the sector expands.

The ELSTAT report noted that job shortages in the fourth quarter of 2023 neared an all-time high at 38,111, the most since the first quarter of 2013, when the crisis neared its peak at 41,545.

From the fourth quarter of 2022 to the fourth quarter of 2023, job vacancies surged by 82%, marking a 180-degree turnaround from the years of crisis that led to record unemployment, particularly among the youth, and prompted tens of thousands to leave the country in search of employment.

RELATED

CHALKIDA, Greece - As Greece is pushing to rein in tax evaders - which no government has been able to do - the director and four employees at the Halkida tax office on the country’s second-biggest island of Evia, were arrested on bribery charges.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Three Little Piggies at a Yoga Class = Maximum Happiness

SPENCER, Mass. (AP) — Three little piggies went to a yoga class.

WASHINGTON — The presidents of Northwestern and Rutgers universities defended their decisions to end pro-Palestinian encampments through negotiations rather than police force, telling a House committee on Thursday that they defused the danger without ceding ground to protesters.

SAN FRANCISCO  — Google is tried to confront the latest in a succession of legal attacks on its digital empire on Thursday as federal judge began to address anticompetitive practices in the app market for smartphones powered by its Android software.

WASHINGTON  — Get ready for what nearly all the experts think will be one of the busiest Atlantic hurricane seasons on record, thanks to unprecedented ocean heat and a brewing La Nina.

C. Dean Metropoulos has made what Babson College is calling a “transformational gift to launch the C.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.