OECD-TUC: Greece in bottom of wage increase forecast for 2018

4 January 2018
651 Views

London-based Trades Union Congress (TUC) has prepared forecasts for wage growth in developed economies over the coming year based on analysis of OECD data, and Greece is among the worst performers.

Out of the total of 32 countries included in the OECD list, Greece ranks 27th with a meagre wage increase of 0.2%. It’s good news for a number of Eastern European countries, with Hungary, Latvia and Poland expected to see the largest increases at 4.9, 4.1 and 3.8 percent, respectively.

Tougher times await those in the soon-to-be-divorced UK though, where real wages are projected to shrink by a potentially punishing 0.7 percent.

The U.S. is on the positive side of the chart, with a 1.2 percent jump upwards predicted to be on its way. Italy and Spain are also in dire straits, according to the analysis as wages in their economy will also contract by 0.6% and 0.1%, respectively.

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