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ATHENS – Four years after austerity measures were first imposed on orders of international lenders, the paycheck of Greek workers is still falling.

The average salary at Greek enterprises fell a further 10.27 percent in 2013, while the earnings drop in the construction sector was even steeper, at 15.82 percent, according to data compiled by the Social Security Foundation (IKA). Average daily wages fell 6.92 percent and 7.11 percent respectively.

According to the data, the average daily wage of those in full-time employment (excluding the financial sector) came to 54.66 euros and the average monthly salary to 1,265.08 euros.

In part-time employment the respective rates were 25.07 euros and 445.33 euros. The average wage in the construction sector was 43.08 euros and the average salary 561.33 euros.

The IKA data show that the smaller the business the lower the pay. At those with fewer than 10 workers, the average daily wage for full-time work was 63.3 percent of the average at larger firms, while the respective average salary stood at 60.78 percent.

The wages of women in full-time employment stood at 84.4 percent of men’s, while for part-time work the respective rate was 95.42 percent.

Retail and wholesale commerce remained the largest employers, accounting for 21.98 percent of jobs. Manufacturing was next with 14.42 percent and tourism third with 10.90 percent.

While whacking most workers with big pay cuts, tax hikes and slashed pensions, the government has exempted Parliament workers from further cuts and they retain higher salaries than others with the same job in other ministries, and get four-month annual bonuses even though the body meets infrequently.

The post Greek Wages Take Big Hit appeared first on The National Herald.

Source: The National Herald
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