In an attempt to stimulate its economy, Greece recently implemented a new limited six-day workweek. This change, announced in July, allows certain industries that operate 24 hours a day in Greece to allow employees to work up to 48 hours per week, an increase from the previous maximum of 40 hours. Workers who surpass the 40-hour threshold will be compensated with an additional 40% in overtime pay. Greek Prime Minister Kyriakos Mitsotakis described the change as “growth-oriented” and aimed at reducing tax evasion caused by undeclared work.
In contrast to this change, some other economies in Europe and the United States have moved towards a shorter workweek. For example, Senator Bernie Sanders of Vermont introduced legislation this year proposing a 32-hour workweek as the new standard defined by the Fair Labor Standards Act. Additionally, 30% of American CEOs surveyed expressed interest in exploring organization-wide work schedule shifts such as a four-day or 4.5-day workweek.
The new workweek policy in Greece is a reflection of efforts to adapt to changing economic conditions and improve overall productivity. It remains to be seen how successful this approach will be in achieving these goals, but it is clear that many countries are experimenting with different ways to promote economic growth and reduce inequality.
