Speaking at the business conference Äriplaan 2018 on Thursday, Governor of Eesti Pank Ardo Hansson said that the growth in exports and investment in the first half of the year gave hope that the economy is coping with ever sharper labour shortages, but it will not be able to maintain the current... more

  • The current rate of growth in the economy cannot be maintained for long
  • The growth in corporate investment and profits is a positive change
  • There is increased upwards pressure on labour costs
  • There is a danger of overheating in the construction sector, which... more
Orsolya Soosaar Economist at Eesti Pank
  • Growth in wages picked up and was close to the average rate of 2016
  • Real wages  grew more slowly because of inflation
  • Wage growth is being boosted by strong demand for labour

The average gross... more

Orsolya Soosaar Economist at Eesti Pank
  • The labour market indicators remained good in the second quarter
  • The employment expectations of companies improved and they felt labour shortages more sharply
  • The unemployment rate rose to 7%,
  • Growth... 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 directly... more
  • Growth in the economy has picked up sharply as foreign demand has increased and the problems in certain individual sectors have eased
  • Cyclical indicators show the economy is currently growing at a rate that is faster than it can sustain over the long term
  • As growth is... more

Orsolya Soosaar Economist at Eesti Pank
  • The share of people of working age who were in employment reached 66.3% in the first quarter. In seasonally adjusted terms it stood at 67.3%, which is the highest figure in recent decades
  • The unemployment... more
Orsolya Soosaar Economist at Eesti Pank
  • The alignment of growth in labour productivity and in wages improved in the second half of 2016 as growth accelerated in productivity and slowed a little in wages
  • Whether companies can improve their profitability as... more
Orsolya Soosaar Economist at Eesti Pank
  • The situation in the labour market was broadly the same as a year ago, except for in Ida-Virumaa
  • The abundance of vacancies and the more optimistic expectations of employers refer to strong labour demand
  • ... more
  • Investment has fallen for three years and this has reduced the potential for growth in the coming years
  • Funding an increase in government spending from a budget deficit may boost growth in the short term, but may harm competitiveness in the long term
  • Improving... more
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