Governor of Eesti Pank Ardo Hansson told the Riigikogu on Tuesday that the Estonian government has acted correctly by keeping its budget in balance, as now is not the time from the economy’s perspective to increase spending significantly.
He explained that the central bank does not give... more
- The average gross wage rose more slowly in the last quarter of 2015, but still did so faster than productivity
- The average net wage increased about 1.5 percentage points faster than the gross wage did because of the cuts... more
Both seasonally adjusted quarterly wage growth and average annual wage growth were faster than in the second quarter
Wages in accommodation and catering rose by 16.9%
Data from Statistics Estonia show that the average... more
Rapid wage rises have encouraged people to participate in the labour market more actively: despite the decline in the working age population the labour force increased in the first half of the year.
At the Äriplaan 2016 conference on Wednesday, Governor of Eesti Pank Ardo Hansson spoke of how Estonian companies have succeeded in increasing their non-price competitiveness. The need to improve competitiveness has become ever more important in coming years as higher labour costs have made... more
Data from Statistics Estonia show that the growth in average gross wages accelerated to 5.8% in the second quarter of 2015, from 4.5% in the first quarter. Tax changes that took effect this year supported the 7.3% rise in the average... more
Data from Statistics Estonia show that annual growth in average gross monthly wages slowed in the first quarter of 2015 to 4.5%, and growth in gross hourly wages fell to 5.8%. Seasonally adjusted growth in average monthly wages was... more
Annual growth in employment accelerated to 2.9% in the first quarter of 2015, while unemployment stood at 6.6%. The low comparison base from the first quarter of 2014 played a part in the rapid annual growth in employment. Seasonally... more