Greece has increased the national minimum wage by 9.4%. The decision, taken by the Minister of Labour, responds to a fall in real wages due to inflation, the energy crisis and the war in Ukraine, set against increasing GDP and lower unemployment figures. The monthly minimum wage for employees has increased by EUR 67 to EUR 780.00, while blue-collar workers must now be paid EUR 34.84 per day, an increase of EUR 2.99.
The new minimum wage triggers changes throughout the Greek employment system. Some employees who started before January 2012 will earn as much as an additional 30% as a result of the changes. For many employees, however, pay increases based on years of service will remain tightly controlled until the national unemployment rate falls below 10%. A range of employment-related benefits and education allowances calculated by reference to the minimum wage will also increase, along with severance payments for senior managers.
For more information about compensation and benefits