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International Internet Magazine. Baltic States news & analytics Tuesday, 28.11.2023, 11:45

SEB: wages have started to gradually increase in Estonia and Latvia, not in Lithuania

Juhan Tere, BC, Tallinn, 24.10.2012.Print version
According to SEB bank's Baltic Household Outlook, wages have started to gradually increase in Estonia and Latvia while in Lithuania, real wages still decrease, LETA/Postimees Online reports.

In Estonia, the real wage grew for the fourth quarter in a row although with lower speed than in previous quarters. In the second quarter, real wage grew by 1.1% year-on-year. In Latvia the figure was 1.5%.


Since the first quarter of 2010, when wages started to grow in Estonia, average gross wage has increased by 19%. Considering consumer price movements, the real wage has grown by 6.7%.


As compared to the second quarter of 2008, the average net wage, revised with inflation (consumer price index) is by nearly 7.5% lower in Estonia.


In Latvia the average gross and real wage has since the economic fall bottomed out increased by 11 and 2.5% respectively. In the second quarter of 2012, the real wage was by 10.3% lower than at the same time in 2008.


The income level of Lithuanian households has gone through the biggest fall – real net wage fell by 14.3% from the second quarter of 2008 to the same time this year.

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