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

15.05.2019
Orsolya Soosaar Economist at Eesti Pank

Employment increased by 1.7% in the first quarter of 2019, while unemployment was at 4.7%, which is very low. Although a fall in confidence in foreign trading partners indicates the economy may be cooling, this has not yet had any... more

29.04.2019
Working Papers of Eesti Pank 2/2019  Articles: Mathä, Thomas Y., Millard, Stephen, Rõõm, Tairi, Wintr, Ladislav, Wyszyński, Robert, “Shocks and labour cost adjustment: evidence from a survey of European firms”, ECB Working Paper, April 2019, No. 2269; Mathä,... more
23.04.2019
Orsolya Soosaar Economist at Eesti Pank

Growth in the economy was faster in Estonia in the second half of 2018 than expected, and as a result, demand for labour increased. The labour market remained hot: wage growth picked up pace, people switched jobs often, and corporate... more

11.04.2019
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

01.03.2019
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

14.02.2019
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

19.12.2018
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
19.12.2018

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

29.11.2018
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

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