One in every four workers earns a low income

One in four workers receive low salaries, according to a recent survey by the Cyprus Institute of Labour, which is connected to the Peo union. This shows the growing gap in income.

If the government and trade unions don't intervene, wage earners would find themselves in a "precariousness trap", according to Peo head Sotiroulla Charalambous. Even while nominal salaries increased in 2023–2024, surpassing inflation, this did little to stop the overall trend of workers' incomes moving away from them. Only half of labour cost reductions have resulted in lower product prices, despite the fact that businesses' profitability has skyrocketed, with returns 70% greater than in 2010.

Charalambous demanded a minimum wage order to protect vulnerable workers and warned companies for putting profits above productive investments. She urged the government to resolve unfair competition and bring employment relations back into balance.

The analysis found that, in spite of persistent difficulties, income distribution improved somewhat in 2023–2024, reversing previous declines. Peo promised to keep up the fight for workers' rights.