10.06.2020

Estonia is going through a global pandemic with wide-ranging economic consequences that will leave the economy 10% smaller than it was last year if the virus fades away and restrictions are not re-imposed. The economy has already started to recover as the restrictions that have been introduced... 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

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

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

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