The Organization for Economic Cooperation and Development published its welfare index report and estimated that Greece is doing rather well and not far off from the averages. The OECD is also expected to publish its predictions on the financial prospects of Greece and other OECD members
According to the Organization’s welfare index report, the annual net income of the average Greek household was 20,440 dollars (15,890 euros), slightly less than the OECD average of 23,047 per year. The report indicates that Greeks are less satisfied of their condition than other OECD members, although it estimates that there is a strong sense of solidarity, as 81% believe they know someone they can bank on in times of need.
The report further suggests that 71% of Greeks claim to have more positive experiences than negative ones, compared to the OECD average of 80%. According to the report while money cannot buy happiness, it is an important means to achieve higher living standards.
With regards to employment, the OECD report indicates that 56% of people aged 15 to 64 in Greece are in paid employment, compared to the OECD average of 66%. About 66% of those in paid employment are men, while about 45% are women. Interestingly the report shows that Greeks are amongst the hardest workers, with an annual average of 2,032 working hours, when the OECD average in 1,776 hours.
The OECD further explains that only 65% of adults aged 25 to 64 have completed secondary education, when the OECD average is about 74%. The average life expectancy in Greece is 81 years old (1 year more than OECD averages), which break downs to 83 years for women and 8 years for the men. Finally, 69% of Greeks are pleased with the quality of irrigation, compared to the OECD average of 84%.
