The Greek labour market, 2000-2024

Effrosyni Adamopoulou and Nicholas Giannakopoulos ()

World of Labour, 2026, No 528, 528

Abstract: Greece’s labour market tells a mixed story. After one of the deepest crises in Europe, unemployment has fallen and employment has recovered, yet many problems remain. Long-term unemployment is still high, real wages have not fully regained their purchasing power, and most jobs are in small firms with limited growth prospects. At the same time, major reforms changed how wages are set, reducing collective bargaining and making the minimum wage the main pay floor for many workers. This raises an important question: has the Greek labour market truly recovered, or has it settled into a new and more fragile balance? Understanding this is key for designing policies that support stable jobs, fair pay, and inclusive growth in the future.

Keywords: economic crisis; long-term unemployment; wage compression (search for similar items in EconPapers)
JEL-codes: E24 J21 J31 J51 O52 (search for similar items in EconPapers)
Date: 2026
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