The average salary in the private sector is getting closer to €1,500, as the expansion of full-time employment contracts leads to significant improvement in workers’ wages. Recent data shows that the €1,500 target may be achieved by 2026, one year earlier than the original government plan.
EFKA data confirms upward trend
The latest data from the Detailed Periodic Declarations of EFKA for October 2024 reveals an encouraging picture. The average salary reached €1,340, marking a remarkable 5.8% increase compared to €1,267 in the corresponding month of 2023.
This positive development reflects the overall improvement in working conditions and the strengthening of economic activity in the country.
Projections for 2025 and 2026
According to estimates from the Bank of Greece, the upward trend is expected to continue at steady rates:
- For 2025: With an average increase of 5.5%, the average salary is projected to reach €1,415
- For 2026: Continuing the growth rate at 5.8%, wages are expected to touch €1,500
The importance of full-time employment in wage evolution
The increase in full-time employment positions serves as a catalytic factor for improving wages. Workers with stable contracts enjoy not only higher salaries but also better prospects for professional development.
This trend reinforces, according to Eleftheros Typos, optimism that the €1,500 target can be achieved earlier than the scheduled timeline, contributing to the country’s overall economic recovery.
