Analytics, Baltic, Financial Services, Society, Wages
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
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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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