A new landscape for wages in Greece, with increases averaging 30% and, in some sectors, even exceeding 40% since 2019. This picture is reflected in labor market data as summarized in the draft state budget and presented in detail in surveys by ELSTAT and ERGANI.
Behind the rise in wages lies a significant shift that has taken place in the labor market in recent years. Unemployment has fallen to its lowest levels in the last 15 years, employment is rising, and in several sectors, companies are now struggling to find workers. This combination is creating conditions for an upward trend in wages.
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In 2025, the average monthly wage for private-sector employees reached 1,336 euros, marking a 30.3% increase compared to 2029, while the average full-time wage rose to 1,516 euros. The upward trend continued in 2026, as wages per employee are estimated to increase by 3.7%. A further increase of 3.9% in 2027 is projected for wages per employee. These are positive developments in wage levels that reflect the successive increases in the minimum wage in recent years, wage growth in key sectors of the economy, such as the increase in public sector wages. For 2027, these calculations also include the increase resulting from the new 500-euro allowance for public sector employees. For these reasons, per capita wages for salaried workers in 2027 are projected to be 25.8% higher in nominal terms compared to 2019. As for the real increase in wages per employee in 2027, it is estimated that they will rise by 1.5% after accounting for inflation.
The driving force behind these positive developments on the wage front is the strong growth of the Greek economy—at rates above 2%—which is reflected in all key labor market indicators. According to data from the ERGANI information system, the balance of job postings versus resignations for the seven-month period from January – July of this year was positive by 323,136 jobs, compared to 319,843 during the corresponding seven-month period last year. More specifically, hires totaled 1,994,155 and separations totaled 1,671,019.
It is noteworthy that the unemployment rate in the second quarter of 2026 fell further to 7.9% from 8.6% in the corresponding quarter of 2025, while, based on seasonally adjusted estimates, it stood at an even lower level of 7.4% last August compared to the same month last year. Overall, employment is projected to increase by 0.4% in 2027, and specifically for wage earners, by 0.7%. According to budget data, the number of wage earners is approaching 4 million, and the total number of employed persons is 5.3 million.
The rise in employment has led to an increase in nominal wages. Since last April, the minimum wage has risen by 4.55% to 920 euros from 880 euros, while the minimum daily wage for manual laborers rose from 39.30 euros to 41.09 euros. The minimum wage has increased by 41.5% since 2019, with the prospect of reaching 960 euros in April 2027 and settling at 1,000 euros by January 2028, as announced by the government.
Data from ELSTAT surveys fully reflect the new landscape of wages in our country, providing a more detailed analysis of individual sectors of the economy. Thus, from 2029 to 2026, the wage index for professional, scientific, and technical activities rose by 45.4%. This represents the largest increase in wage levels among 12 categories of salaried employment. In information and communication (mass media), the increase reached 43.8%, while in administrative activities (clerical support, etc.), it was 41%. In wholesale and retail trade (retail stores, supermarkets, etc.) wages rose by 37.6%, and in construction by 36.3%, with mining following with a 33.6% increase.
In manufacturing and crafts, wages rose by 33.3%, while in the transportation and warehousing sector, they rose by 31.2%. The real estate management sector saw a 24.7% increase, while cafes, restaurants, and hotels recorded increases of 19.6%. In addition, wages rose by 18.6% in the electricity and natural gas supply sector and by 14.9% in the water supply sector.
Source: KYPE
