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

06.11.2019

The latest financial stability review from Eesti Pank indicates that risks to the financial sector are small. The probability has increased though of the cooling economy making it harder for businesses to make their loan payments.

Governor of Eesti Pank Madis Müller said that the risks... 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

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

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 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

28.08.2018
Orsolya Soosaar Economist at Eesti Pank
  • Wage growth was slowed by the effect of the tax reform, which changed how holiday pay is paid out and raised the average net wage

  • Upwards pressure on wages remains high

  • Wage inequality and poverty... more
26.06.2018
  • Growth in the economy will be around 3.5% in 2018-2019, but it will slow to 2.5% in 2020
  • Inflation will start to slow to 2.9% in 2018, 2.5% in 2019, and 1.9% in 2020
  • Wage growth will remain fast until 2020 at around 6-7%
  • The low level of investment by companies... more
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