03.12.2019
The labour market review by experts from Eesti Pank covers developments in the supply, demand and prices of labour in Estonia. The central bank observes the labour market for two reasons. Firstly, labour is an important production input, as a change in the supply or activity of labour can... more
27.11.2019
Orsolya Soosaar Economist at Eesti Pank

Data from Statistics Estonia show that the average gross monthly wage was up 8.2% over the year in the third quarter of 2019. The rapid growth in wages and the recently published estimates of employment and unemployment show that the... more

14.11.2019
Orsolya Soosaar Economist at Eesti Pank

The unemployment rate fell to the exceptionally low level of only 3.9% in the third quarter of 2019. The labour force survey also estimates the unemployment rate to be at its lowest ever since Estonia regained independence.

... more

06.11.2019

The latest financial stability review from Eesti Pank indicates that risks to the financial sector are small. The probability has increased though of the cooling economy making it harder for businesses to make their loan payments.

Governor of Eesti Pank Madis Müller said that the risks... more

28.10.2019
Orsolya Soosaar Economist at Eesti Pank

Three factors are having a significant impact in the Estonian labour market this year, and these are the loss of momentum in growth in the economy, the loss of competitiveness in the oil shale sector, and the large number of foreign... more

25.09.2019
Ülo Kaasik Deputy Governor of Eesti Pank

After the rapid growth in demand for labour in recent years, the economy is losing more and more momentum, and this is starting to restrain the growth in wages and consumption, said Deputy Governor of Eesti Pank Ülo Kaasik at the... more

14.08.2019
Orsolya Soosaar Economist at Eesti Pank
  • The labour market remains favourable for employees
  • The unemployment rate was 5.1% in the second quarter
  • The number of short-term workers from abroad rose noticeably
  • Employers in industry have become... more
12.06.2019

The Estonian economy will grow by 3.3% this year and 2.1% next. Growth in the economy will slow as export markets are weaker than before and there are still shortages of labour in Estonia. Wages will continue to rise despite the slower economic growth, but they will do so at a lower rate. Rising... more

03.06.2019
The labour market review by experts from Eesti Pank covers developments in the supply, demand and prices of labour in Estonia. The central bank observes the labour market for two reasons. Firstly, labour is an important production input, as a change in the supply or activity of labour can... more
29.05.2019
Orsolya Soosaar Economist at Eesti Pank

Statistics Estonia finds that the average gross wage in the first quarter of this year was 1341 euros a month, which is up 7.9% on a year earlier. The average wage has been rising faster in the public sector than in the private sector... more

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