Home > Uncategorized > Minimum wages in European austerity countries: Greece is different (but not as you are made to expect)

Minimum wages in European austerity countries: Greece is different (but not as you are made to expect)

In Januari 2015, Germany introduced a new economy wide minimum wage of Euro 1473,–, about the same level of the Irish minimum wage and slightly higher than the French level. The mimimum wage in Greece is 684,–, considerable higher than the 390,– Estonian level but clearly below the 757,– Spanish level. See these Eurostat data. The Eurostat statisticians point out that Greece was the only country to decrease its minimum wage between 2008 and 2015 (-19%). It is interesting to compare Greece with other austerity countries, which are supposed to be a shining example for Greece. Lowering the minimum wage is clearly not a  silver bullet when it comes to job growth.

Greekordeal

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s