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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 02:56

SEB: Income of young people in Estonia increased steadily over past 3 yrs

BC, Tallinn, 02.07.2019.Print version
A study carried out into the income of young people by SEB in the spring of 2019 indicates that the earnings of people aged 18 to 25 have been steadily increasing over the past three years, informed LETA/BNS.

The share of young people earning relatively high remuneration of over 1,200 euros per month as well as the share of those earning average wages have both grown. Young people's satisfaction with their income has also improved with over 40% reporting that they consider their wages to be fair, SEB said.


Altogether 22% of employed young people earned over 1,200 euros per month. 41% earned 800 to 1,200 euros per month, whereas last year the figure stood at 38%. 

SEB analyst Mihkel Nestor said that employees, not employers, are currently the ones making the rules in the labor market.


"The employment rate in Estonia is one of the highest in Europe and as a result, the average remuneration has grown by nearly a third over the past three years. The generation of young people that has entered the labor market today is also much smaller in number compared to the previous one, which further increases competition for them," Nestor said.


The study also indicated a large discrepancy in what young men and young women consider fair remuneration. Over 30% of young women regarded 800 to 1,000 euros per month fair wages, while the respective share among young men was less than 20 percent.


Meanwhile, over 20% of young men said that over 1,500 euros per month can be considered fair remuneration while only 5 percent of young women shared that opinion.


SEB conducted its study among 604 young people aged 18 to 25 in the spring of 2019 by way of online surveys. Parallel surveys were also carried out in Latvia and Lithuania.






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