Greece Unit Labour Costs - Forecast

Labour Costs in Greece is expected to be 80.10 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Greece to stand at 90.20 in 12 months time. In the long-term, the Greece Unit Labour Costs is projected to trend around 96.60 Index Points in 2020, according to our econometric models.


Forecast Data Chart
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Greece Labour Last Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 19.5 19.6 19.1 18.2 17.5 16
Employed Persons 3840 3740 3780 3800 3820 3990
Unemployed Persons 913 1000 990 980 975 950
Part Time Employment 357 383 385 386 388 396
Full Time Employment 3366 3580 3600 3610 3620 3700
Employment Rate 80.79 79.6 79.8 79.9 80 81.2
Long Term Unemployment Rate 14.5 14.2 13.8 13.6 13.2 12.5
Youth Unemployment Rate 39.7 41.6 41.2 41 40.5 36
Labour Costs 90.3 80.1 95.9 89.1 90.2 96.6
Job Vacancies 14351 11200 12500 18900 15100 16300
Minimum Wages 684 684 684 684 684 684
Population 10.74 10.74 10.74 10.69 10.69 10.64
Retirement Age Women 67 67 67 67 67 67
Retirement Age Men 67 67 67 67 67 67
Labor Force Participation Rate 51.6 52.6 52.7 52.7 52.8 53.2
Living Wage Family 1020 1050 1050 1070 1070 1200
Living Wage Individual 580 580 580 620 620 650
Wages 1060 1050 1065 1095 1055 1200
Wages High Skilled 1600 1700 1700 1750 1750 1750
Wages Low Skilled 747 800 800 850 850 850
Productivity 91.1 94 94.4 94.6 94.2 95.6
Employment Change 0.3 0.5 0.5 0.4 0.4 0.5