Gross Monthly Wages Pass 1,000 Euros for First Time
The average gross wages of an Estonian worker exceeded 1,000 Euros in a month for the first time in the country's history, checking in at 1,028 Euros in December, reported Statistics Estonia today.
The average gross wages and salaries were 962 euros in October, 968 euros in November.
The growth of average monthly salaries slowed down in Estonia in the fourth quarter of 2013. Monthly wages and salaries grew at a 7.6 percent rate in the four quarter of 2013, compared to the same period in 2012.
However, that is a lower growth rate is slower when compared to the second and third quarters, which grew 8.8 and 8.5 percent, respectively, from their 2012 levels.
Real wages, which take into account the influence of the change in the consumer price index, increased 6.0 percent in the 4th quarter of 2013. Compared to the same quarter of the previous year, real wages increased for the tenth quarter in succession.
Compared to the 4th quarter of 2012, irregular bonuses and premiums per employee grew 17.0% and influenced the growth of the average monthly gross wages and salaries by 0.4 percentage points.
Without bonuses and premiums factored in, the average monthly gross wages and salaries increased 7.2 percent. Those incentives grew 17 percent during the Christmas season.
The average hourly gross wages and salaries were 5.99 euros in the 4th quarter of 2013, and hourly wages and salaries increased 8.3 percent compared to the 4th quarter of 2012.
Compared to the 4th quarter of 2012, the average monthly and hourly gross wages and salaries increased the most in agriculture, forestry and fishing activities – by 19.3 percent and 21.4 percent, respectively.
The average monthly gross wages and salaries decreased compared to the 4th quarter of 2012 only in professional, science and technical activities (4.4 percent). In the same activities, the average hourly gross wages and salaries also decreased the most (4.1 percent).
The employer’s average monthly labor costs per employee were 1,336 euros in the fourth quarter of 2013, and the average hourly labor costs were 8.69 euros. Compared to the 4th quarter of 2012, the average monthly labor costs per employee increased by 6.9 percent, and the average hourly labour costs by 7.6 percent.
Statistics Estonia's sample included 11,592 enterprises, institutions and organizations.