Orsolya Soosaar Economist at Eesti Pank
  • The average wage stood at 1119 euros in the third quarter and its growth rate slowed
  • The latest data show labour costs continued to increase faster than productivity

Data from Statistics Estonia show that... 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

Orsolya Soosaar

Economist at Eesti Pank

  • Data released today put the unemployment rate higher in the third quarter than it was in the second quarter
  • Jobs have been created most in the service sector since... more
  • Faster loan growth could increase the risks to banks from real estate
  • Although corporate profits were down, the ability of companies and households to repay their loans remains good
  • The rate of growth of bank loans should be in line with nominal GDP growth in the years... more
Orsolya Soosaar Eesti Panga ökonomist
  • Growth in employment slowed in the first half of 2016, though it was still faster than forecast
  • Employment in the industrial sector was down slightly, but it was up in services
  • Growth picked up in the average... more

Speaking at a conference for industry on Tuesday, Ülo Kaasik said that there have been a series of positive changes in exports in the first half of the year. External markets are growing, albeit slowly, but industrialists are under constant pressure from wages.

“Despite slow economic... more

Ardo Hansson Governor of Eesti Pank

The annual meeting of the International Monetary Fund (IMF) is being held in Washington this week, and the discussion will focus on the state of the global economy, the main obstacles to faster development, and economic policy... more


At the Äriplaan 2017 conference on Wednesday, Governor of Eesti Pank Ardo Hansson spoke of the increased share of labour-dependent sectors in the Estonian economy, which is also illustrated by the growth in wages in recent years. This means that the market is moving ever more decisively away... more

Orsolya Soosaar Eesti Panga ökonomist
  • Employment improved despite slow economic growth
  • Registered unemployment increased in Ida-Virumaa
  • The work ability reform is expected to boost registered unemployment and the labour force participation rate... more
  • An improved external environment and higher productivity are boosting economic growth
  • Rising food and energy prices will put an end in the second half of the year to the deflation that has been present for two years
  • Wage pressures have not eased, and growth in the... more
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