The relarionship between minimum wage and unemployment rate in greek labour market

Main Author: Καραμάνης, Κωνσταντίνος
Other Authors: Ναξάκης, Χαρίλαος Ι.
Format: Paper
Language: English
Published: 2014
Online Access:
Conference: 6th International Conference “The Economies of Balkan and Eastern Europe Countries in the Changed world” Eastern Macedonia and Thrace Institute of Technology (Greece), University of Nis (Serbia) May 9-10, 2014, Nis, Serbia
Physical Description: [8] σελ.
Abstract: In Greece, during the last four years, have been legislated and implemented a series of legislative provisions introducing some significant structural changes in the Greek labour market. These changes had to do, among others, with the reduction of minimum wage level compressing the labour cost companies in order to increase the employment rate. The views of economists on effect of the establishing of minimum wages are quite contradictory. The evaluation of relationship between labour market and minimum wage rate is either positive or negative or even not related at all, depending on the assumptions about characteristics of labour market. The purpose of this paper is to investigate the relationship between the minimum wage level and the rates of unemployment and employment in the Greek labour market. More specifically, this study analyses the evolution of the minimum wage during the period 2000-2013 and also whether these changes have really affected the unemployment and employment rates or not. The main conclusion of our study supports several other studies conclusions suggesting that the level of minimum wage in Greece did not really affect the unemployment and employment rates.