Nearly 640,000 private sector wage-earners in Greece paid under 390€ per month

Wednesday, 14 February 2018 14:08

Nearly 640,000 people in Greece currently employed on a part-time basis in the private sector are paid a rate of 389.65 euros per month, a figure that accounts for 29.66 percent of all employed people that are beneficiaries of the former IKA social security fund.

Total beneficiaries of Greece’s largest private sector social security and health fund, which was merged with an umbrella social security organization (EFKA), reached just more than 2.145 million in May 2017, out of a total population in the country of roughly 11 million people.

In essence, one out of every three people employed in Greece’s tax-swamped and crisis-battered private sector is paid a monthly net wage lower than the regular unemployment benefit – which is 360 euros.

Conversely, the average remuneration for full-time salaried work is 49.60 euros per day, and the average month salary 1,152.19 euros. For part-time work, the figures are 23.48 euros per day, or 389.65 euros per month.

Construction work, at least what’s shown in on-the-books employment, is 42.07 euros per day, but only 599.92 per month, given that rarely are all the work days completed.