The weakness in the economy restrained the growth in wages and reduced the ranks of those in paid employment
With the economy weak and inflation falling, growth in wages continued to slow in the second...

The labour market is taking time to recover, and wage growth will slow
The labour market indicators at the start of this year revealed the impact of the recession, but...

LABOUR MARKET REVIEW. More jobs have been preserved than during earlier crises
Orsolya Soosaar, Katri Urke, Lauri Matsulevitš and Kaspar Oja The impact of the enduring...

ECONOMIC FORECAST. The economy is on the threshold of growth
The latest forecast from Eesti Pank finds that after two years of recession, conditions have...

Conditions have improved for growth in the economy to recover says Madis Müller
The economy in the euro area and in Estonia will remain weak this year, but the conditions have...

The labour market stood up well to the recession last year
Statistics Estonia estimates that the economy contracted by 3% last year, but there was no...

ECONOMIC FORECAST. The recession is dragging on
The latest economic forecast from Eesti Pank finds that the recession in the Estonian economy will...

The continued decline in exports is not a good sign says Madis Müller
Growth in the wealth of Estonia depends on whether Estonian companies and the Estonian economy can...

The purchasing power of the average wage is 5% more than it was a year ago
The growth in wages slowed for the second consecutive quarter and data from Statistics Estonia show...

The recession in the economy is increasingly impacting the labour market
Data from Statistics Estonia show that unemployment in Estonia rose to 7.3% in the third quarter, as...

LABOUR MARKET REVIEW. The economy recovering slowly is a danger to jobs
The Estonian economy has been in recession for a year and a half now, but the labour market has so...

Growth in wages will be restrained in future by the weak position of the economy
The average gross monthly wage was 12.4% higher in the second quarter of 2023 than it was a year...

Unemployment increased on account of higher participation
Data from Statistics Estonia show that employment in Estonia remained high in the second quarter of...

Republic of Estonia: Staff Concluding Statement of the 2023 Article IV Mission
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official...

The economic decline has reduced employment in individual sectors
Data from Statistics Estonia show that the Estonian labour market remained stable at the start of...

LABOUR MARKET REVIEW. Jobs have been preserved so far as better times are expected
Orsolya Soosaar, Katri Urke and Lauri Matsulevitš Economists at Eesti Pank The sharp rise in...

Wages continue to rise fast despite the downturn in the economy
The average gross monthly wage was 1775 euros in the fourth quarter of 2022, which was 9.2% more...

Unemployment was low at the end of the year despite the recession
Unemployment was 5.4% in Estonia in the fourth quarter of last year in the data from Statistics...

Eesti Pank forecasts that the full impact of the energy crisis is only starting to be felt by the economy
The latest economic forecast from Eesti Pank finds that consumption will be reduced by high...

The purchasing power of the average wage fell further in the third quarter
Data from Statistics Estonia show the growth in the average wage slowing in the third quarter. Wages...

The slowdown in economic growth has not reached the labour market
The labour market remained strong in the third quarter even though exports were weaker, industrial...

The labour market has remained strong despite the decline in economic activity
Orsolya Soosaar, Katri Urke, Lauri Matsulevitš, Mari Pärnamäe Economists at Eesti Pank The...

Both the central bank and the government need to take steps to combat inflation
The outlook for the Estonian economy depends above all on the future rate of inflation. Estonia has...

Labour market remained strong in the second quarter
Situation in the labour market continued to be favourable in the second quarter – there were 4.9%...

Payment of bonuses accelerated growth in wages
The average wage in the first quarter of this year was 8.1% higher than a year earlier according to...

Republic of Estonia: Staff Concluding Statement of the 2022 Article IV Mission
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official...

Employment grew fast at the start of the year
There were 5.1% more people in employment in the first quarter of this year than a year earlier, and...

The Estonian labour market was in a strong position at the start of this year
The Estonian labour market recovered strongly from the Covid-19 crisis in the second half of 2021...

Real wages fell because inflation was high
Data released today by Statistics Estonia show that the average wage was up by 7.3% in the fourth...

Economic growth will slow
Growth in the economy in 2021 exceeded expectations, but it will be slower from here on. The...

Finding new employees is becoming harder
The labour market is on the track of recovery from the crisis. The unemployment rate fell from 5.7%...

Brisk hiring of additional workers boosted wage growth
Data released today by Statistics Estonia show the growth in the average wage accelerated from 7.3%...

The labour market improved in the summer
Unemployment fell to 5.7% in the third quarter from 6.9% in the previous quarter, and seasonally...

Experts and politicians considered how labour migration affects the Estonian economy
A seminar was held at Eesti Pank on Friday to discuss how labour migration affects the future of the...

LABOUR MARKET REVIEW. Companies are again having difficulties in finding qualified labour
Orsolya Soosaar, Lauri Matsulevitš Economists at Eesti Pank The Estonian economy grew strongly...

Wages are rising as fast as they were before the pandemic
Data from Statistics Estonia show that the average wage was 7.3% larger in the second quarter than...

The restrictions laid down this spring did not step up unemployment
Unemployment went down from the first quarter’s 7.1% to 6.9% in the second. Employment increased by...

Wage growth accelerated despite the crisis
The estimate of the average wage published today by Statistics Estonia shows wage growth...

The new wave of the virus had little effect on the labour market
The unemployment rate was 7.1% in the first quarter of this year, similar to unemployment in the...

The new wave of the virus is slowing the recovery in the labour market
Orsolya Soosaar, Katri Urke, Lauri Matsulevitš, Kaspar Oja Economists at Eesti Pank The...

The labour market did not deteriorate in the fourth quarter
The tighter restrictions placed on businesses in Harjumaa and Ida-Virumaa and the loss of tourists...

The recovery in economic activity raised wages
Orsolya Soosaar Economist at Eesti Pank Data from...

It is too early yet to say how the second wave of the virus will affect the labour market
Orsolya Soosaar Economist at Eesti Pank Unemployment...

The coronavirus storm clouds have not yet dispersed from the Estonian labour market
Orsolya Soosaar Economist at Eesti Pank The labour...

The government can dispel the uncertainty about the future
The contraction in the Estonian economy in the second quarter was smaller than had been feared, but...

The coronavirus crisis slowed the growth in wages
Orsolya Soosaar Economist at Eesti Pank Data from...

It is time to move from emergency crisis aid to a long-term plan
Estonia is going through a global pandemic with wide-ranging economic consequences that will leave...

The effect of the crisis is that labour shortages will be replaced by shortages of jobs
At the end of the first quarter of this year the coronavirus crisis hit the global economy,...

The crisis hit the service sector when it was at a peak
Orsolya Soosaar Economist at Eesti Pank Employment...

Wages grew more slowly at the end of last year
Orsolya Soosaar Eesti Panga ökonomist Wages continue...

The labour market is in a good position, though the data indicate some cooling
Orsolya Soosaar Economist at Eesti Pank The labour...

Eesti Pank forecasts that the economy will start to lose momentum after running at full power
The Estonian economy will grow by 3.4% this year and 2.3% in 2020 Growth in the economy will...

The employee remains in command
Orsolya Soosaar Economist at Eesti Pank Data from...

The cooling economy may threaten the ability of companies to service their loans
The latest financial stability review from Eesti Pank indicates that risks to the financial sector...

Unemployment is low but competition in the labour market may become tighter
Orsolya Soosaar Economist at Eesti Pank Three factors...

Growth in wages and consumption is slowing says Ülo Kaasik
Ülo Kaasik Deputy Governor of Eesti Pank After the...

Wages are rising more slowly
Orsolya Soosaar Economist at Eesti Pank Data from...

There are signs within the strong labour market that the economy is cooling
Orsolya Soosaar Economist at Eesti Pank The labour...

People and the state could look to make savings in the coming years
The Estonian economy will grow by 3.3% this year and 2.1% next. Growth in the economy will slow as...

Wages are growing faster in the public sector than in the private sector
Orsolya Soosaar Economist at Eesti Pank Statistics...

The labour market is doing well with low unemployment and increasing employment
Orsolya Soosaar Economist at Eesti Pank Employment...

Companies are less optimistic in their employment growth expectations
Orsolya Soosaar Economist at Eesti Pank Growth in the...

Ülo Kaasik: workers have started to prefer to work less
Ülo Kaasik Deputy Governor of Eesti Pank The Estonian...

Rapidly rising wages are putting pressure on prices
Natalja Viilmann Economist at Eesti Pank Data from...

Unemployment has fallen to almost the same low level as in the economic boom
Orsolya Soosaar Economist at Eesti Pank Unemployment...

The fall in competitiveness in the economy points to trouble ahead
The Estonian economy will grow by around 3.5% this year and next, and by 2020 growth will slow to...

Workers coming from abroad help to ease labour shortages
Orsolya Soosaar Economist at Eesti Pank Data from...

New jobs could be created in Ida-Virumaa
Orsolya Soosaar Economist at Eesti Pank Labour market...

A new record has been set in the labour market
Rasmus Kattai Economist at Eesti Pank Each quarter...

Labour shortages remain dominant in the labour market
Orsolya Soosaar Economist at Eesti Pank Growth in the...

Slower growth in wages may prove temporary
Orsolya Soosaar Economist at Eesti Pank Wage...

The labour market remains favourable for employees
Orsolya Soosaar Economist at Eesti Pank The share...

Growth in net wages leapt sharply
Orsolya Soosaar Economist at Eesti Pank Growth in...

The higher unemployment figure does not mean a deterioration in the economy
Orsolya Soosaar Economist at Eesti Pank The growth...

The economy was driven on by increased employment
Orsolya Soosaar Economist at Eesti Pank For the...

Last year was the most successful since the economic crisis
The economy was driven upwards mainly by a burst of growth in demand Increased investment is...

Republic of Estonia: Staff Concluding Statement of the 2018 Article IV Mission
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official...

The labour market would gain from the faster removal of barriers to participation
Orsolya Soosaar Economist at Eesti Pank Given the...

The labour market remains favourable for employees
Orsolya Soosaar Economist at Eesti Pank The labour...

The Estonian economy is reaching the peak of the growth cycle
The economy is in its best position since the crisis The economy will grow more slowly in the...

The acceleration in wage growth is being driven by the industrial sector
Orsolya Soosaar Economist at Eesti Pank The average...

Times are still good in the labour market
Orsolya Soosaar Economist at Eesti Pank The labour...

Labour productivity increased in the first half of the year
Orsolya Soosaar Economist at Eesti Pank Labour...

Ardo Hansson: companies have started to invest more
Speaking at the business conference Äriplaan 2018 on Thursday, Governor of Eesti Pank Ardo Hansson...

The economy is sailing with a tailwind
The current rate of growth in the economy cannot be maintained for long The growth in corporate...

Corporate profit grew faster than wages in the second quarter
Orsolya Soosaar Economist at Eesti Pank Growth in...

Demand for labour remained strong in the second quarter
Orsolya Soosaar Economist at Eesti Pank The labour...

Economic growth will get a boost from the need to invest in increasing productivity
Growth in the economy has picked up sharply as foreign demand has increased and the problems in...

The work ability reform has brought additional people into the labour market
Orsolya Soosaar Economist at Eesti...

Better alignment of growth in wages and productivity is threatened by labour shortages
Orsolya Soosaar Economist at Eesti Pank The...

The position of employees in the labour market remained favourable
Orsolya Soosaar Economist at Eesti Pank The...

The capacity for growth in the Estonian economy has contracted
Investment has fallen for three years and this has reduced the potential for growth in the coming...

Wage growth slowed in the third quarter
Orsolya Soosaar Economist at Eesti Pank The...

Unemployment rose in the third quarter
Orsolya Soosaar Economist at Eesti...

The risks to the financial sector in Estonia are small in the near future
Faster loan growth could increase the risks to banks from real estate Although corporate...

The labour market marches to a different drum to the rest of the economy
Orsolya Soosaar Eesti Panga ökonomist Growth in...

There have been several positive changes in Estonian exports this year says Deputy Governor Ülo Kaasik
Speaking at a conference for industry on Tuesday, Ülo Kaasik said that there have been a series of...

The economy is becoming more labour-focused says Ardo Hansson
At the Äriplaan 2017 conference on Wednesday, Governor of Eesti Pank Ardo Hansson spoke of the...

Wage growth slowed in local government administration
Orsolya Soosaar Economist at Eesti Pank The growth...

The labour market improved in the second quarter
Orsolya Soosaar Eesti Panga ökonomist Employment...

The risk of growth slowing because of the labour market overheating has increased
An improved external environment and higher productivity are boosting economic growth Rising...

Emigration slowed the decline in the number of people of working age
Orsolya Soosaar Economist at Eesti Pank Seasonally...

Despite weak GDP growth, demand for labour remained strong
Orsolya Soosaar Economist at Eesti Pank The rise...

Wage growth has slowed but remains faster than productivity growth
Orsolya Soosaar Economist at Eesti Pank The...

Unemployment was at the same level in the fourth quarter as a year earlier
Orsolya Soosaar Economist at Eesti...

Ardo Hansson: The loss of market share for the Estonian exporting sector indicates there are problems with competitiveness
In a presentation at the annual conference of the Estonian Economic Association, Ardo Hansson,...

Slower growth in the economy is not reflected in labour market indicators
Orsolya Soosaar Economist at Eesti Pank The share...

Despite good conditions in the labour market, the number of jobs may be reduced in future
Orsolya Soosaar Economist at Eesti Pank Rapid...

Lower tax rates and prices lifted real wage income
Orsolya Soosaar Economist at Eesti Pank Data from...

Wages and productivity became better aligned in the second quarter
Orsolya Soosaar Economist at Eesti Pank Statistics...

High rates of labour market participation offset the decline in the working age population
Orsolya Soosaar Economist at Eesti Pank Annual growth...

The rapid rise in labour costs may restrict investment opportunities
Orsolya Soosaar and Natalja Viilmann Economists at Eesti...

Available labour resources are in ever-shorter supply
Orsolya Soosaar Economist at Eesti Pank The labour...

Labour Market Review 1/2021
The labour market review by experts from Eesti Pank covers developments in the supply and demand of...