Higher salaries have stagnated
The stagnation of salaries observed at the relatively higher levels, in contrast to hikes in the basic salary, is highlighted by the Bank of Greece as a point of concern in the Monetary Policy Report to be presented next Wednesday by Governor Yannis Stournaras.
According to information, it is pointed out that while the increases in the minimum wage have cumulatively reached 48%, dragging up to a certain extent the relatively low wages, salaries above the average and specifically above 1,650 euros have hardly risen in the last 10 years. These are workers such as scientists, executives etc who have not seen their position improving after the end of the crisis. On the contrary, given the inflation, it is getting worse. The distribution of wages has changed radically, the central bank points out, seeking to open a public debate about it and possibly seek solutions. It concerns a part of the workforce that no one has dealt with, since the focus is systematically on the minimum wage and pensions.
That is also linked to the brain drain – i.e. the search for opportunities abroad by educated young people. About 250,000 remain abroad and will not return with salaries stuck at decade-old levels. Many of them have been educated in Greece, a significant investment which the country loses out on.
