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

International Internet Magazine. Baltic States news & analytics Friday, 26.04.2024, 22:31

In Q2, average net monthly earnings in Lithuania grew to LTL 1832

Virginija Bankietienė, Statistics Lithuania, 26.08.2014.Print version
Statistics Lithuania informs that in II quarter 2014 average gross monthly earnings in the whole economy (individual enterprises excluded) totalled LTL 2355.7, and against I quarter 2014, increased by 1.7%.

In the public sector1 – LTL 2462.4 (increased by 2%), in the private sector – LTL 2297.3 (increased by 1.6%).

 

Average net monthly earnings in the whole economy amounted to LTL 1832, and against I quarter 2014, grew by 1.6%: in the public sector – LTL 1909 (increased by 1.9%), in the private sector – LTL 1790 (increased by 1.5%).

 

In II quarter 2014, against I quarter 2014, real earnings in the whole economy grew by 1.1%: in the public and private sectors – by 1.4 and 1% respectively.

 

In II quarter 2014, against I quarter 2014, the increase in earnings was determined by increased volume of works, seasonal fluctuations and other reasons.

_____________________
1 Public sector covers budgetary institutions and organisations (educational, health care, social work, cultural, public administration, etc.), public establishments, enterprises where state and municipal property makes up 50% or more of authorised capital.


Figure 1. Average monthly earnings (2) in the whole economy, by quarter

Individual enterprises excluded


Over the year, faster growth in gross earnings was observed in private sector than in public sector

In II quarter 2014, against II quarter 2013, average gross monthly earnings in the whole economy increased by 4.6%: in the public sector – 4.2%, in the private sector – 4.9%.

 

Over the year, average net monthly earnings in the whole economy increased by 5%: in the public sector – 4.5%, in the private sector – 5.3%. The change in net earnings was influenced by the changes in calculation netof the tax-exempt amount of income and additional tax-exempt amount of income set in the Law on Income Tax of Individuals of the Republic of Lithuania from 1 January 2014.

 

Over the year, real earnings in the whole economy increased by 4.9%: in the public sector – 4.4, in the private sector – 5.2%. The increase in real earnings was determined by the growth in net earnings, which was faster than the increase in prices for consumer goods and services.


In II quarter 2014, gross earnings increased in almost all economic activities

In II quarter 2014, against I quarter 2014, average gross monthly earnings in the whole economy grew the most in enterprises engaged in electricity, gas, steam and air conditioning supply (8.5%), construction and accommodation and food service activities (4.4% each), while decreased – in enterprises engaged in financial and insurance activities (5.9%).

 

Over the year, the average gross monthly earnings in the whole economy grew in all economic activities.


Table 1. Average monthly earnings (1) by sector and sex of employees, II quarter 2014 LTL

 

Gross

Net

total

males

females

total

males

females

Whole economy

2 355.7

2 544.2

2 173.5

1 832.4

1 968.3

1 701.1

Public sector

2 462.4

2 793.3

2 283.3

1 909.3

2 147.9

1 780.2

Private sector

2 297.3

2 460.0

2 083.3

1 790.3

1 907.6

1 636.0

_____________________
1 Less individual enterprises.


Table 2. Indices of average monthly earnings (1) by sector and sex of employees, II quarter 2014

 

Previous quarter – 100%

Respective quarter
of the previous year – 100%

total

males

females

total

males

females

Gross

 

 

 

 

 

 

Whole economy

101.7

101.8

101.5

104.6

105.2

103.8

Public sector

102.0

101.8

102.1

104.2

105.3

103.5

Private sector

101.6

101.9

101.0

104.9

105.3

104.4

Net

 

 

 

 

 

 

Whole economy

101.6

101.7

101.4

105.0

105.4

104.4

Public sector

101.9

101.7

101.9

104.5

105.4

104.0

Private sector

101.5

101.8

100.9

105.3

105.6

105.0

Real

 

 

 

 

 

 

Whole economy

101.1

101.2

100.9

104.9

105.3

104.3

Public sector

101.4

101.2

101.4

104.4

105.3

103.9

Private sector

101.0

101.3

100.4

105.2

105.5

104.9

_____________________
1 Less individual enterprises.


Over II quarter, the average number of employees in the whole economy increased by 1.2%

In II quarter 2014, against I quarter 2014, the average number of employees in the whole economy grew by 14.1 thousand (1.2%): in the public sector – by 1.5 thousand (0.4%), in the private sector – by 12.6 thousand (1.6%). The most noticeable increase in the number of employees in the whole economy was observed in the enterprises engaged in mining and quarrying (16.9%), agriculture, forestry and fishing and administrative and support service (7.1% each) enterprises.

 

Over the year, the average number of employees in the whole economy increased by 36.5 thousand (3.2%). It was conditioned by a 5.3% increase in the average number of employees in the private sector. In the public sector, the average number of employees dropped by 0.7%.


Concepts

Gross earnings – remuneration in cash covering the basic wage and bonuses, payable by the employer to the employee directly, including social insurance contributions and individual income tax payable by the employee. Material and temporary unemployment benefits paid irrespective of the source of finance, compensation for unused annual leave, severance pays and similar benefits are excluded.

 

Net earnings – remuneration in cash covering the basic wage and bonuses, payable by the employer to the employee directly, excluding social insurance contributions and individual income tax payable by the employee.

 

Index of real earnings – a relative indicator reflecting the change in net earnings after the influence of the change in prices for consumer goods and services has been eliminated.


More information on the issue is available in the Database of Indicators of Statistics Lithuania.






Search site