The Effects of Minimum Wages on Wages and Employment

This study analyses the relationship between minimum wages, average wages and employment in the Greek private sector throughout the past decade, using published IKA data on employment and wages, as well as data on minimum statutory wages. It appears that minimum wages affect a substantial proportion of employees in the Greek private sector, especially in certain industries and in small firms (employing less than 10 workers). The analysis shows that minimum wages affect the average wages of both males and females and that increases in minimum wages affect the employment of both genders