Labour law

The increase in the minimum wage is a positive development. The value of labor was one of those areas that took the brunt of the internal devaluation during Greece's economic crisis. 

But cultivating an economic environment that will create high-paying jobs requires much more complex and painstaking efforts.

The increase in the minimum wage also creates pressures for salary increases for other employees in Greece, especially in small businesses and some industries, such as services.

The press center of the National Employment Agency has released its latest report indicating a steady unemployment rate of 5.8% in the country for February. Holding firm from the previous month, this figure represents 165,585 registered unemployed individuals, marking a decrease of 255 compared to the previous month.

The government has decided to raise the minimum wage to around 830 euros gross and €705 net as of April 1. Labor Minister Domna Michailidou submitted her proposal to the cabinet secretariat on Friday, with the final decision to be announced next Wednesday by Prime Minister Kyriakos Mitsotakis.

Anyone who breaks the law will indeed receive a fine – Over 800 euros increase in the minimum wage

Discussions are underway this Sunday for the new minimum wage increase, effective April 1.

Initiated on February 5, the process involves consultations scheduled to conclude by March 22, presenting recommendations to set the minimum wage. 

This marks the fourth consecutive increase by the government, from 650 euros in 2019 to €780 in April 2023. 

As the government mulls over simplifying labor legislation in Türkiye, media reports are discussing the potential reduction of working hours. However, despite signals of change, concrete action is yet to be taken.

Soon price reductions on the shelves – The Prime Minister said in the interview he gave to Star that the minimum wage will be over 800 euros

How strong is the Greek economy, really? Whatever may have been said, there are some safe criteria by which to assess its state. It is only as strong as the labor market, the jobs created and the wages offered. 

The road to increasing the minimum wage to 950 euros and the average salary to €1,500 by 2027, as the government has pledged, is difficult and long.

According to academics and labor experts, the goal is hard to achieve even at nominal prices. As they say, after the increase in the minimum wage, the average has been set at €1,200.