Analytics, Estonia, Financial Services, Wages

International Internet Magazine. Baltic States news & analytics Monday, 20.05.2013, 08:54

Swedbank: average wage growth to be 6.5% in Estonia in 2012

Juhan Tere, BC, Tallinn, 11.09.2012.Print version
Average wage growth to reach 6.5% in Estonia in 2012, taking into consideration that the wage growth in the services sector will accelerate during the second half of the year, Swedbank said in a statement.

Real wage growth is expected to reach 2.3% on average, but slower growth is increasingly more likely due to growing risks regarding higher inflation, writes LETA.

 

The average monthly gross wage increased by 5% in annual comparison in the second quarter, reaching 900 euros.

 

Real wage growth, at the same time, slowed from 2.4% in the first quarter to 1.1%, affected by slowing nominal wage growth as well as delay in the inflation deceleration. The largest wage increases were observed in domestic demand related sectors and/or sectors which are affected by qualified labor shortage problems.




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