Microeconomics
Commission discusses minimum wage hike
A special commission tasked to determine an adequate hike in the minimum wage for more than 7 million workers held a second meeting on June 19.
The first meeting of the Minimum Wage Determination Commission took place on June 13.
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Reluctance to take up new posts
Unemployment remains high, but DYPA employment counselors are finding it very difficult to meet the demands of businesses or staff training programs.
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Part-time labor appears to be receding
The number of part-time workers in Greece is decreasing, albeit slowly, which is a determining factor for the incomes of Greek households.
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Huge blow to retail in the 2010s
A quarter of Greek retail businesses disappeared altogether in the decade from 2010 to 2020, an indication of the heavy price paid by the sector during the financial crisis and then during the pandemic crisis, according to an Alpha Bank analysis.
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Government spokesperson discusses four pillars to improve labor market
Reflecting on Labor Day on Monday State Minister and government spokesman Akis Skertsos presented the work of the government and, ahead of the upcoming elections in May, presented its program of four points that will improve the labor market.
Cost of labor
The measures introduced by the government to support incomes were significant, however, they could make up for the high cost incurred by employers due to social security contributions.
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In 2022: 22.9% of Bulgarians were below the Poverty Threshold of 525.92 Leva per month
In 2022, the total poverty line for Bulgaria was BGN 525.92 per household member per month. With this size of the poverty line, 1.5719 million people, or 22.9% of the country's population, were below the poverty line, according to data from the National Statistical Institute.
E-kalathi to be Cyprus’ tool for smart shopping
Based on the Cypriot government's timeline, the introduction of e-kalathi, a new digital platform for monitoring retail product prices, is expected to take place around early 2024. The bill has been given the green light by the Council of Ministers and will soon be presented to the Parliament.
Once passed, e-kalathi will be available as a smartphone application for consumers to use.
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Registered unemployment down 5.2% in March
Registered unemployment totaled 1,035,580 in March, down 5.2% from March 2022 and down 3.6% from February 2023, the state manpower authority said on Thursday.
More specifically, 533,314 unemployed (51.5% of total) were long-term unemployed, 370,903 were men (35.8%) and 664,677 were women (64.2%).
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New minimum monthly wage of €780 comes into force
The new minimum wage of €780 a month has come into force as of April 1, after an increase of 9.4% on the previous level.
Accordingly, the minimum daily wage has also gone up, to €34.84, an increase of €5.80 on its February 2019 rate.
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