From democracy to souvlaki, we have Greece to thank for a lot of great things. That said, we hope the country’s latest invention doesn’t make it too far beyond its borders.
Driving the news: In a radical gambit to supercharge productivity, Greece has rolled out a six-day, 48-hour workweek for private businesses that offer 24-hour services. Taking on another workday is optional for workers, who will get paid an extra 40% for the new hours.
- Unions have called the change “barbaric,” but the government believes it’s necessary to get the economy moving amid a dwindling population and skilled labour shortage.
Why it matters: Greece is zigging while others zag, adding a workday while many countries experiment with removing one. Despite successful four-day workweek trials across Europe, Belgium is the only country to legislate the shift, and has seen low adoption thus far.
- While countries aren’t lining up to copy Greece, they could be hesitant to remove work hours as global productivity slumps.
In Canada: Labour productivity has been sinking for years, with the Bank of Canada going so far as to call it an emergency. It’s doubtful that a six-day workweek will be offered as a solution, though — besides being unpopular, it would require labour code changes.—QH