Analytics, Employment, Estonia, Financial Services, Markets and Companies, Wages

"Despite the lower incomes from exports in the industrial sector and the difficulties in several sectors stemming from the external environment, staff have tended to be paid more, and this has led wage offers to rise. Wages have probably been able to rise because of the financial buffers built up in earlier years and the very favorable interest rates," economist at the central bank Orsolya Soosaar said commenting on labor market statistics published on Thursday.

In addition, it is noteworthy that wages in accommodation and catering rose by 16.9%. "It is probable that the average wage in this industry rose because the number of low-paid jobs there was reduced," she said.

A key role in wages in the healthcare and education sectors rising faster than those elsewhere in the economy has been played by collective pay agreements, Soosaar said. "The average wage in education in the third quarter of 2015 was 88% of the national average wage, a figure that has climbed by a quite substantial four percentage points in the past two years," she added.

She added that the average wage of a school teacher working full time in the first quarter of 2015 was 100% of the Estonian average wage according to wage analysis by the Ministry of Education, and the minister has said that the target is to raise this to 120%.

In the third quarter of 2015, the average monthly gross wages and salaries in Estonia were 1,045 euros or 6.9% more than in the same quarter a year ago but 3.4% less than in the second quarter, Statistics Estonia said on Thursday. The monthly median payout to a working person in Estonia rose by 8.3% on year to 733 euros in the third quarter of 2015, figures provided by the Tax and Customs Board show.