Greece is the only one from 34 countries of the OECD in which the real wages presented double-digit reduction in relation to 2010, reaching the -21.2%, and is found in the second to last place, above Mexico, in average income for the 2024.
The real wages decreased also in other four countries (Ireland -6%, Netherlands -5%, Italy -7%, Spain -3%), however they remain significantly higher than of Greece.
The countries of Eastern Europe dominate in the fastest rates of growth, with many to record increases above of 30%.
The real wage is the purchasing power of one worker, taking into account the inflation and the prices of goods and services.
Eastern Europe stands out as the fastest growing region as concerns the real wages since 2010, as, among others, Latvia reaches the +77% and Lithuania the +67%. Poland with +38% and Hungary with +31% are also high in the list.
Luxembourg is first in the ranking with the average annual wage, while it records also increase 16% in relation to 2010.
The comparison made the website Visual Capitalist, which visualized the course of the wages in 34 developed economies, in dollars parity of purchasing power (PPP – Purchasing Power Parities), adjusted for the inflation. The dollars PPP are one invented monetary unit that is used for the comparison of the living level and of the economic production between different countries.
Source: In.gr
What is fyi.news?
