Analytics, Financial Services, Latvia, Markets and Companies, Wages

International Internet Magazine. Baltic States news & analytics Sunday, 19.05.2024, 10:15

Average monthly net wages in Latvia increased to LVL 361 in Q2

Lija Luste, Statistics Latvia, 30.08.2013.Print version
Latest data compiled by the Central Statistical Bureau of Latvia show that average wages and salaries in the country are growing evenly. As compared to the 2nd quarter of 2012, gross wages and salaries in the 2nd quarter of 2013 have risen by 4.7% – from LVL 481 to LVL 503.

In comparison with the 1st quarter of this year, gross wages and salaries in the country have gone up by 3.8% – from LVL 485* to LVL 503. Rise in the public sector constituted 6.0%, in private sector – 2.6%, while in general government sector – 4.5%.


Changes in average monthly gross wages and salaries (% over corresponding
period of previous year)


Compared to the 2nd quarter of 2012, gross wages and salaries in private sector in the 2nd quarter of 2013 increased more rapidly than in public sector – by 5.3% (from LVL 459 to LVL 483). Rise in the public sector constituted 3.9% (from LVL 520 to LVL 540), of which 5.2% growth was recorded in the general government sector (from LVL 466 to LVL 491).


Changes in average monthly wages and salaries by sector

 

Q2 2012

Q1 2013

Q2 2013

Change, %

Q2 2013 over

Q2 2012

Q2 2013 over

Q1 2013

Total

481

485*

503

4.7

3.8

Private sector

459

471*

483

5.3

2.6

Public sector

520

510

540

3.9

6.0

of which:

 

 

 

 

 

General government sector

466

469

491

5.2

4.5


In the 2nd quarter of this year, average monthly gross wages and salaries, calculated by including also the number of unemployed persons engaged in the paid temporary public works in the employee number, comprised LVL 500. Data of the State Employment Agency show that on average 8.8 thousand unemployed persons were participating in the paid temporary public works during this time period.

 

Average monthly net wages and salaries in the 2nd quarter of this year constituted LVL 361. Along with the smaller inflation, the real rise in the wages and salaries during the year reached 5.2% –exceeding the rise in the nominal net wages and salaries for the first time within the last two years (5.1%).


Changes in average monthly net wages and salaries (% over corresponding
period of previous year)


In comparison with the 2nd quarter of 2012, increase in the wages and salaries in the 2nd quarter of 2013 was recorded in all sectors, except transportation and storage (drop of 0.8%).


Average monthly gross wages and salaries by economic activity in 2nd quarter of 2012 (per cent over
corresponding period of previous year)



Average monthly gross wages and salaries by economic activity (LVL)

 

Q2 2012

Q1 2013*

Q2 2013

Change, %

Q2 2013 over

Q2 2012

Q2 2013 over

Q1 2013

Total

481

485

503

4.7

3.8

Agriculture, forestry and fishing

445

452

471

5.7

4.3

Mining and quarrying

480

534

554

15.5

3.8

Manufacturing

443

442

463

4.7

4.8

Electricity, gas, steam and air conditioning supply

716

643

720

0.6

12.1

Water supply; sewerage, waste management, and remediation activities

499

469

514

2.9

9.7

Construction

436

457

474

8.6

3.7

Wholesale and retail trade, repair of motor vehicles and motorcycles

408

423

432

6.0

2.0

Transportation and storage

563

511

558

-0.8

9.1

Accommodation and food service activities

314

314

325

3.7

3.4

Information and communication

760

842

814

7.2

-3.2

Financial and insurance activities

1016

1067

1098

8.0

2.9

Real estate activities

414

416

427

3.2

2.7

Professional, scientific and technical activities

595

588

602

1.2

2.4

Administrative and support service activities

430

430

452

5.1

5.2

Public administration and defence; compulsory social security

573

590

624

8.8

5.7

Education

406

410

418

3.1

2.1

Health and social work

453

448

473

4.5

5.6

Arts, entertainment and recreation

399

400

420

5.4

5.0

Other service activities

392

403

421

7.4

4.6

 

More information on wages and salaries in Latvia is available in the CSB database.


Explanations

Data source: sample survey of individual merchants, commercial companies, State and local government institutions, foundations, associations and funds as well as administrative data sources.

 

Public sector is central and local government institutions and commercial companies, commercial companies with central or local government capital participation 50% and over, as well as foundations, associations and funds, and their commercial companies. Data on foundations, associations and funds and their commercial activities are not included in this information.

 

According to the European System of Accounts (ESA 95) the general government sector includes central and local government institutions, the social security fund, enterprises controlled and financed by the central and local governments.

 

Changes of average monthly wages and salaries are calculated as rounded values, i.e., considering the value in santims.

 

When calculating average monthly wages and salaries the number of salaried employees is re-calculated into full-time units, thus eliminating the differences in salaries paid for various workloads.

* Data have been revised.





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