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
24.10.2016

The IMF has concluded their annual official staff visit (or ‘mission’) to Estonia. The mission team commended the country’s economic policy and reform plans, but expressed concerns about weak productivity growth. They said Estonia will have to find ways to balance productivity and wage growth... more

21.10.2016
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
10.10.2016
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

30.08.2016
Orsolya Soosaar Economist at Eesti Pank
  • The growth rate of gross monthly wages slowed a little, especially in local government administration
  • Given that productivity declined in the second quarter, growth in the average wage remained strong
  • The... more
18.07.2016
This paper analyses how the statutory minimum wage has affected the wage distribution in Estonia, a country with virtually little collective bargaining and relatively large wage inequality. The computations follow Lee (1999) but the effects of the minimum wage are identified by the... more
08.06.2016
  • 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
30.05.2016
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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