Minimum Wage Drops Further in Greece
Minimum wage has dropped further in Greece, putting the country in 12th place among European Union member states, according to the latest Eurostat figures.
The new ranking puts Greece above Portugal and the former Eastern Bloc countries, while Spain and Malta stand in higher positions in regards to minimum wage.
Eurostat data shows that the minimum wage in Greece is 683 euros (A$1050) per month, including the Christmas, Easter and summer vacation bonuses in the private sector that add up to two monthly wages.
Also, the minimum wage in Greece corresponds to 50% of the average wage while in other countries the difference is greater.
On January 1, 2016, monthly minimum wages varied considerably and ranged from 215 euros in Bulgaria to 1,923 euros in Luxembourg, the country that ranks first.
The national minimum wage is published by Eurostat twice a year. They reflect the situation on January 1st and July 1st each year. Therefore, changes in minimum wages applicable between these two dates appear in the next biannual edition.
In January 2016, 22 of the 28 EU Member States (Denmark, Italy, Cyprus, Austria, Finland and Sweden were the exception) had national minimum wages.