28.03.2018
  • The economy was driven upwards mainly by a burst of growth in demand
  • Increased investment is required for the economy to continue to succeed
  • An increase in employment rather than in investment has brought the labour market very close to overheating

The year... more

01.03.2018
Orsolya Soosaar Economist at Eesti Pank

Given the exceptionally good position of the economy and the increasing demand for labour, the rise in the rate of wage growth to 7.5% can be seen as moderate. The ability to find suitable work and favourable pay conditions have... more

14.02.2018
Orsolya Soosaar Economist at Eesti Pank
  • The labour market favoured employees very much in the fourth quarter of 2017
  • The unemployment rate was 5.3%
  • Labour shortages have deepened for companies
  • Companies that cannot improve productivity or... more
22.12.2017
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
19.12.2017
  • The economy is in its best position since the crisis
  • The economy will grow more slowly in the years ahead, as the strong growth in foreign markets is fading and available production capacity in the economy is becoming exhausted
  • The government is giving an additional... more
29.11.2017
Orsolya Soosaar Economist at Eesti Pank

The average gross monthly wage was 1201 euros in the third quarter of 2017 and its rate of annual growth rose to 7.4% from 6.8% in the second quarter. Reasons why wage growth has increased include faster inflation, which has raised the... more

14.11.2017
Orsolya Soosaar Economist at Eesti Pank
  • The labour market remained very favourable for employees in the third quarter
  • The unemployment rate fell to 5.2%, falling most in Ida-Virumaa
  • The economy grew in the third quarter thanks to high employment, but... more
08.11.2017
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... more
25.10.2017
Orsolya Soosaar Economist at Eesti Pank
  • Labour productivity increased faster than labour costs in the first half of 2017 for the first time for several years
  • As demand for labour remains strong so upwards pressure on wages continues
  • The number in... more
02.10.2017
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
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