Greek labor productivity remains low

The annual report of the Productivity Council of the Center for Economic Planning and Reserach (KEPE) recorded a slight improvement in the country's productivity indicators in 2023, but they remain at approximately half of the European average.

The country's performance in individual indicators such as digital competitiveness is also worrying, where it ranks 25th among the 27 EU member-states, slightly above Bulgaria.

Labor productivity in terms of working hours, according to the KEPE report, increased by 0.3%, while in terms of employed people it grew by 1%. Total productivity increased by 2.9%, using working hours as a labor input, and by 3.8%, using employment as a labor input. However, labor productivity in terms of GDP per employee is at 57% of the eurozone average and 63% of the EU average, while in terms of GDP per hour worked it is at 44% of the eurozone and...