16.06.2020
Working Papers of Eesti Pank 3/2020 We estimate how raising the statutory retirement age affects employment by considering the pension age reform in Estonia, that gradually raised the normal retirement age (NRA) for women from 58 to 61.5 and the early retirement age (ERA) from 56 to 59.5 during... more
16.06.2020
The labour market review by experts from Eesti Pank covers developments in the supply and demand of labour in Estonia, and the cost of it in wages. 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
27.05.2020
Orsolya Soosaar Economist at Eesti Pank

Growth in wages continued to slow at the start of this year as the average wage increased by 4.8% over the year. In March, when the labour market was first affected by the coronavirus crisis, the average wage was lower than a year... more

15.05.2020
Orsolya Soosaar Economist at Eesti Pank

Employment was 1.3% higher in the first quarter of 2020 than a year earlier, and active participation in the labour market was increasing. The growth in employment last year and in the first quarter of this was supported mainly by the... more

03.03.2020
Orsolya Soosaar Eesti Panga ökonomist

Wages continue to grow fast, especially given that the purchasing power of households has been helped by lower inflation. Wages rose more slowly at the end of the year though than the 8.2% seen in the third quarter, and data from... more

14.02.2020
Orsolya Soosaar Economist at Eesti Pank

The labour market was in an extraordinarily good place in the fourth quarter of 2019, as unemployment remained low at 4.1% and employment was up 0.4% over the year. The data do indicate though that the labour market is cooling.

... more

27.11.2019
Orsolya Soosaar Economist at Eesti Pank

Data from Statistics Estonia show that the average gross monthly wage was up 8.2% over the year in the third quarter of 2019. The rapid growth in wages and the recently published estimates of employment and unemployment show that the... more

14.11.2019
Orsolya Soosaar Economist at Eesti Pank

The unemployment rate fell to the exceptionally low level of only 3.9% in the third quarter of 2019. The labour force survey also estimates the unemployment rate to be at its lowest ever since Estonia regained independence.

... more

28.10.2019
Orsolya Soosaar Economist at Eesti Pank

Three factors are having a significant impact in the Estonian labour market this year, and these are the loss of momentum in growth in the economy, the loss of competitiveness in the oil shale sector, and the large number of foreign... more

28.08.2019
Orsolya Soosaar Economist at Eesti Pank

Data from Statistics Estonia show the average gross wage in the second quarter of the year was 1419 euros, which was 7.4% more than a year earlier. The rate of growth was a little slower than in 2018. The growth in wages continues to be... more

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