Second quarter sees accelerated wage, salary growth on year ({{commentsTotal}})

Wages. Photo is illustrative.
Wages. Photo is illustrative. Source: (Reuters/Scanpix)

According to information released by Statistics Estonia on Wednesday, in the second quarter of 2017, the average monthly gross wages and salaries were €1,242, indicating a 6.8 percent increase on year.

The year-over-year growth in wages and salaries, which had decelerated for four successive quarters, accelerated again, 1.1 percent faster than in the previous quarter.

Average monthly gross wages and salaries totaled €1,120 in April, €1,201 in May and €1,311 in June. The monthly gross wages and salaries in June were higher primarily due to an increase in irregular bonuses and premiums as well as holiday pay. Compared to the previous quarter, average monthly gross wages and salaries increased 7.7 percent.

In the second quarter of 2017, irregular bonuses and premiums were up 7.1 percent per employee compared to the same quarter last year and remaind relatively constant in comparison with the last quarter. Without irregular bonuses and premiums, the average monthly gross wages and salaries increased as much as together with irregular bonuses and premiums, by 6.8 percent.

Real wages, which take into account the influence of the change in the consumer price index, increased slower compared to the second quarter of last year than the average monthly gross wages and salaries due to an increase in consumer prices. Compared to the second quarter of 2016, real wages rose 3.7 percent. Real wages have been increasing on year since the second half of 2011.

Average hourly gross wages and salaries totaled €7.50 in the second quarter of 2017, representing an increase of 8.5 percent compared to the second quarter of last year.

Average monthly gross wages and salaries remained highest in information and communication as well as in financial and insurance activities at €2,135 and €2,052, respectively. Compared to the second quarter of 2016, the average monthly gros wages and salaries increased the most in mining and quarrying (12.9 percent), information and communication (10.5 percent), electricity, gas, steam and air conditioning supply as well as in professional, scientific and technical activities (9.9 percent each). Compared to the second quarter of last year, average monthly gross wages and salaries remained relatively constant in real estate activities (-0.6 percent) and in agriculture, forestry and fishing (1.8 percent).

In the second quarter of 2017, the year-over-year growth in average monthly gross wages and salaries was faster in foreign private sector enterprises (8.8 percent) and in state organizations and enterprises (7.9 percent) and slower in local government organizations (6.7 percent) and Estonian private sector enterprises (5.8 percent).

In the second quarter of this year, by county, average monthly gross wages and salaries were the highest in Harju (€1,372) and Tartu (€1,227) Counties and the lowest in Hiiu (€869 euros) and Saare (€884 euros) Counties. The on-year growth of average monthly gross wages and salaries was the fastest in Ida-Viru (14 percent), Rapla (11 percent) and Võru (9 percent) Counties. Average monthly gross wages and salaries fell, meanwhile, in Saare (3%) and Hiiu (7%) Counties.

According to the Wages and Salaries Statistics Survey, the number of employees converted to full-time equivalent units decreased 0.3 percent compared to the previous quarter and increased 3.5 percent compared to the second quarter of 2016. The biggest year-over-year increase in the number of employees in full-time equivalent units occurred in administrative and support service activities (15 percent), agriculture, forestry and fishing (15 percent) and in information and communication (14 percent), and the biggest year-over-year decrease occurred in transportation and storage (eight percent), public administration and defense; compulsory social security (three percent) and in professional, scientific and technical activities (three percent). Over the course of the year, the number of employees converted to full-time equivalent units increased five percent in the private sector and decreased one percent in the public sector. In the second quarter of 2017, average monthly labor costs per employee totaled €1,673 and hourly labour costs €11.17. Compared to the second quarter of 2016, average monthly labor costs per employee increased 6.7 percent.

Editor: Aili Vahtla



Siim Kallas.

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