BUSINESS

Uninsured labor contained in December

The percentage of uninsured workers dropped to 18.95 percent in December 2013 from 20.57 percent the previous month, according to data presented on Tuesday by Labor Minister Yiannis Vroutsis.

Vroutsis said that a crackdown on uninsured labor in the Greek market led to 6,515 businesses in various sectors being inspected from September 15 to December 31. The inspections revealed that 39,612 employees were working without insurance, or 2.28 percent, resulting in a total of 9.22 million euros' worth of fines, Vroutsis said.

"While in February 2013 the percentage of uninsured labor... had reached as high as 40.47 percent, in November it dropped to 20.57 percent and in December it was further contained to 18.95 percent," Vroutsis said.

The minister said that the data suggests the crackdown launched in September under the codename Artemis is beginning to yield results. He added that further proof of the scheme's success lies in the fact that the country's largest insurer, the IKA Social Security Foundation, saw its revenues inching up in October, November and December for the first time in the past four years.

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