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Real wages in Greece fell by 3.5% in 2017 after a 1.3% increase in 2016, making it the largest decline in Europe last year, according to data released on Tuesday. International Labor Organization (ILO).
It is also the largest decline in real wages in Greece since the spectacular 9.3% drop in 2013.
At the same time, the average real wage in the country has fallen by 3.1% over the last ten years (2008 to 2017) – the largest decline in Europe – and has seen an average decline of 3.5% in 2000-2017.
ILO data for Europe were also not encouraging, as real wages in the region remained stagnant in 2017 and only increased by 1.8% at the same level. worldwide, the lowest rate since 2008.
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