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OECD study: Greek middle-classes lost an average of 6% in annual income during crises years

Featured OECD study: Greek middle-classes lost an average of 6% in annual income during crises years

A new global study by the Organisation for Economic Co-operation and Development (OECD), released on Wednesday, shows that middle-class incomes in crisis-battered Greece for households hover from nearly 8,000 euros to just more than 21,000 euros per year, a figure amongst the lowest for European OECD member-states.

The study, entitled "Under Pressure: The Squeezed Middle Class", notes that average middle-class incomes for households in Greece after 2008 fell by nearly 6 percent annually.

In Greece, additionally, households with average incomes correspond to 59 percent of the population and receive 70 percent of state benefits, while low-income households correspond to 32 percent of the population and receive 15 percent of benefits.

The entire study can be found here:

http://www.oecd.org/social/under-pressure-the-squeezed-middle-class-689afed1-en.htm