13.04.2018
Orsolya Soosaar Economist at Eesti Pank
  • For the first time in many years, labour productivity increased faster than labour costs in 2017
  • A larger share of the working age population participate in the labour market in Estonia than in other countries in Europe... more
05.01.2018
Working Papers of Eesti Pank 12/2017 Katalin Bodnar, Ludmila Fadejeva, Stefania Iordache, Liina Malk, Desislava Paskaleva, Jurga Pesliakaitė, Nataša Todorović Jemec, Peter Tóth and Robert Wyszyński* We study the transmission channels for rises in the minimum wage using a unique firm-... more
29.11.2017
Orsolya Soosaar Economist at Eesti Pank

The average gross monthly wage was 1201 euros in the third quarter of 2017 and its rate of annual growth rose to 7.4% from 6.8% in the second quarter. Reasons why wage growth has increased include faster inflation, which has raised the... more

21.09.2017
  • 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
30.08.2017
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

29.05.2017
Orsolya Soosaar Economist at Eesti Pank
  • Economic activity picked up and productivity growth increased at the same time that wage growth slowed
  • The fastest wage growth in the industrial sector was in construction and oil shale
  • Wage growth is slower in... more
25.04.2017
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
02.03.2017
Orsolya Soosaar Economist at Eesti Pank
  • In a sign of improvement in the economy, labour costs grew slightly more slowly than GDP rather than faster than it for the first time in three years
  • For competitiveness to improve, wage rises will have to be more... more
24.11.2016
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

24.11.2016
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
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