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In the past decade, there has been a growing interest in reinforcing the role of social economy in Greece, due to significant changes in the labor market, the economic recession and the public sector failure to cover social needs. Given the fact that there is limited research literature on this topic, the aim of this paper is to determine the implications of the social economy sector in Greece on the current economic conditions. It will also discuss employees’ and volunteers’ status and their social insurance coverage in terms of their health safety and life protection. The findings of two studies carried out by the Department of Economics of the University of Thessaly are analysed and criticised. The population sample in both studies included farmers' organisations, cooperatives, non-profit associations, consumer organisations, environmental organisations, associations representing the family and persons with disabilities, non-governmental organisations, social enterprises and foundations. In addition, their main activities were health care, social care, culture, education, environment, entrepreneurial and education activities.According to the results of both studies, it seems that social sector contributes to an annual 10% creation of new posts of employment. 21.5% of the employees are fully covered by social insurance and are also eligible for occupational health and safety, while 9.9% work as part-timers and are also covered and eligible for health care, even though they face severe restrictions regarding their retirement rights. However, 68.6% of people involved in the third sector are volunteers who do not have a permanent job, they are not covered by social insurance and are not eligible for occupational health and safety. Also, there are no retirement rights for them.