Ülo Kaasik Deputy Governor of Eesti Pank

The Estonian economy has been one of the fastest growing in Europe in the past three years, and although that growth will slow this year, the labour market will not cool down so much, said Ülo Kaasik, Deputy Governor of Eesti Pank, to... more

Natalja Viilmann Economist at Eesti Pank

Data from Statistics Estonia put the yearly growth in the average gross wage at 8.9% in the final quarter of last year. This was mainly because of special bonuses, which were one third larger than a year earlier. Wage growth continues... more

Orsolya Soosaar Economist at Eesti Pank

Unemployment fell in the final quarter of last year to 4.4% in Estonia, which is the same low level as in the economic boom. As the unemployment figure has fallen however, so the indicators for the functioning of the labour market have... more

The Estonian Economy and Monetary Policy is an Eesti Pank review released four times a year that summarises the main recent events in the global and Estonian economies. Twice a year, in June and December, the review also contains the forecast for the Estonian economy for the current year and the... more

The Estonian economy will grow by around 3.5% this year and next, and by 2020 growth will slow to close to 2%. One reason that growth will slow is that fewer people enter  the labour market. Another reason is the problem of competitiveness at companies, which is indicated by a decline in Estonia... more

Orsolya Soosaar Economist at Eesti Pank

Data from Statistics Estonia show that the average gross monthly wage was up 7.5% over the year in the third quarter of 2018. The rate of wage growth in recent quarters has been affected by the income tax reform. Labour shortages are... more

Orsolya Soosaar Economist at Eesti Pank

Labour market data published on Wednesday show that unemployment remains low and shortages of labour are biting. The share of people in work varies widely across regions however, and there is most space for creating new jobs in Ida-... more

Rasmus Kattai Economist at Eesti Pank

Each quarter this year, some seven per cent of employees have left their current employer at their own request and started to work for someone else. In a broad sense this means that over a year, one employee in four moves to look for... more

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
Orsolya Soosaar Economist at Eesti Pank

Growth in the economy slowed in the first half of 2018 and signs of this were evident in the labour market, with employment growing more slowly than in 2017 for example. There are still a lot of vacant positions in the economy, but they... more

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