Greeks work longest hours in eurozone

Greeks work longest hours in eurozone

 

OECD survey shows them to spend more time working than peers and to have lowest income in bloc

By Sotiris Nikas

Greeks work more than other eurozone citizens and are paid less, which predictably places them among the least satisfied people among 36 nations surveyed by the Organization for Economic Cooperation and Development (OECD).

Greeks are the third least satisfied with their lives in the survey, given that in most indexes they are below the OECD country average. The only nations to be even less satisfied are the Portuguese and the Hungarians, the survey found. The Swiss top the list.

According to the data in the updated version of the Better Life Index published on Tuesday, the average net income of Greek households stands at $20,440 (15,877 euros) per year, which is far below the OECD average of $23,047 (17,902 euros) per year. In Germany this figure stands at $28,799 (22,370 euros), in France at $28,310 (21,990 euros), in Ireland at $24,104 (18,723 euros) and in Spain at $22,847 (17,747 euros), while in Portugal it is even lower, at $19,366 (15,043 euros) per annum. Notably, the top fifth of the Greek population in terms of revenues earns six times as much as the bottom 20 percent, which constitutes a huge gap by any standard.