Study: Greek households’ income, on average, slashed by 42% over 20009-14 period

21 November 2018
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Greek households’ was slashed, on average, by 42 percent, where the average reduction in monthly income, during the period 2009-14, was 513 euros.

The results were included in study unveiled on Monday by diaNEOsis, an Athens-based research and policy institute. The study covers the specific period, when two bailout memorandums, accompanied by austerity measures, were implemented in the country.

According to the most prominent findings, women’s income in Greece was marginally less than those of men: -41.6 percent to 41.9 percent.

The worst-hit demographic groups, something more-or-less expected, were young adults, between the ages of 18 and 29. The reduction in income for this group was 44.8 percent. The age group 30 to 44 suffered a reduction in income, on average, by -42.3 percent; -44.6 percent for the 45-64 age group. The lowest impact, albeit still high, was for the age group of 65 years old and over, -33.5 percent.

Additionally, losses in income were greater for households with one or two or children, instead of households without children or families with three offspring or more.

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