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

Compared to the same quarter of the previous year, the increase in average monthly gross wages and salaries in the 2nd quarter of 2014 was slower than in the 1st quarter. The average monthly gross wages and salaries without irregular bonuses and premiums increased 5.0% in the 2nd quarter. Compared to the 2nd quarter of 2013, irregular bonuses and premiums decreased 1.8% per employee and reduced the rise in average monthly gross wages by 0.2 percentage points.

Real wages, which take into account the influence of the change in the consumer price index, also increased 4.8% in the 2nd quarter of 2014. Compared to the same quarter of the previous year, real wages increased for the twelfth quarter in succession.

According to the Wages and Salaries Statistics Survey, the number of employees as at the end of June was 4.7% higher than at the same time in 2013. There was a slightly more than a 10% increase in the number of employees in four economic activities: 1) agriculture, forestry and fishing; 2) wholesale and retail trade; 3) accommodation and food service activities; and 4) administrative and support service activities.

In the 2nd quarter of 2014, the average hourly gross wages and salaries were 6.21 euros and increased 8.8% compared to the 2nd quarter of 2013.

In the 2nd quarter of 2014 compared to the 2nd quarter of 2013, the average monthly and hourly gross wages and salaries increased the most in financial and insurance activities (by 9.3% and 12.2%, respectively).

Compared to the 2nd quarter of 2013, the average monthly and hourly gross wages and salaries increased the least in mining and quarrying (by 0.4% and 4.8%, respectively).

Average monthly gross wages and salaries and monthly labour costs per employee, 2nd quarter 2014

The average gross wages and salaries were 996 euros in April, 1,002 euros in May and 1,065 euros in June.

In the 2nd quarter of 2014, the employer’s average monthly labour costs per employee were 1,379 euros and the average hourly labour costs were 9.29 euros. Compared to the 2nd quarter of 2013, the average monthly labour costs per employee increased by 4.5% and the average hourly labour costs by 7.3%.

Compared to the 2nd quarter of 2013, the average monthly labour costs per employee increased the most in electricity, gas, steam and air conditioning supply (8.9%) and the average hourly labour costs increased the most in financial and insurance activities (11.2%).

Compared to the 2nd quarter of 2013, the average monthly labour costs per employee decreased only in mining and quarrying (0.8%) and the average hourly labour costs increased the least in information and communication (3.0%).

Statistics Estonia conducts the Wages and Salaries Statistics Survey on the basis of an international methodology since 1992. In 2014 the sample includes 11,920 enterprises, institutions and organisations. The average monthly gross wages and salaries have been given in full time units to enable a comparison of different wages and salaries, irrespective of the length of working time. Calculations of the monthly gross wages and salaries are based on payments for actually worked time and remuneration for time not worked. The hourly gross wages and salaries do not include remuneration for time not worked (holiday leave pay, benefits, etc.). In short-term statistics, the average gross wages and salaries are measured as a component of labour costs. Labour costs include gross wages and salaries, employer’s contributions and employer’s imputed social contributions to employees.

Average monthly gross wages and salaries, 1st quarter 2010 – 2nd quarter 2014 (euros)

Average hourly gross wages and salaries and hourly labour costs, 2nd quarter 2014