Av­er­age earn­ings in Latvia ex­ceed 900 eu­ros

Baltic News Network - - News -

In Q2 2017 the av­er­age gross wages and salaries for full-time work con­sti­tuted 927 eu­ros. Com­pared to Q2 2016, the av­er­age wages and salaries in­creased by 74 eu­ros or 8.7 %.

Com­pared to the pre­vi­ous quar­ter, in Q2 2016 the in­crease in the gross wages and salaries com­prised 4.8 % (42.7 eu­ros). Com­pared to Q2 2016, in Q2 2017 gross wages and salaries fund rose by 9.1 % or 173.2 mil­lion eu­ros, whereas the num­ber of salaried work­ers grew only by 0.3 % or 2.5 thou­sand (re­cal­cu­lated into full-time units), ac­cord­ing to data from the Cen­tral Sta­tis­ti­cal Bu­reau of Latvia.

In Q2 2017, the av­er­age net wages and salaries con­sti­tuted 676 eu­ros, which was 7.8 % more than in Q2 2016. In gen­eral, the av­er­age net wages and salaries rose slower than the earn­ings be­fore taxes.

As of 1 Jan­uary 2017, the min­i­mum un­taxed min­i­mum ap­plied on the work­place was re­duced from 75 eu­ros to 60 eu­ros, and min­i­mum na­tional wage rose from 370 eu­ros to 380 eu­ros or by 2.7 %.

The in­crease in con­sumer prices reg­is­tered in Q2 2017 (of 3.1 %, com­pared to the cor­re­spond­ing pe­riod of the pre­vi­ous year) had down­ward ef­fect on the pur­chas­ing power of the em­ployed pop­u­la­tion – real wages and salaries grew only by 4.6 %. Com­pared to Q2 2016, in Q2 this year the rise of wages and salaries in pri­vate sec­tor con­sti­tuted 9.1 %, in pub­lic sec­tor 8.2 % and in gen­eral gov­ern­ment sec­tor 9.3 %. In Q2 2017, the av­er­age gross wages and salaries amounted to 915 eu­ros in the pri­vate sec­tor and to 954 eu­ros in pub­lic sec­tor, whereas in gen­eral gov­ern­ment sec­tor, which in­cludes cen­tral and lo­cal gov­ern­ment in­sti­tu­tions, as well as en­ter­prises con­trolled and fi­nanced by the cen­tral and lo­cal gov­ern­ment, the av­er­age gross wages and salaries amounted to 901 eu­ros. Com­pared to the cor­re­spond­ing quar­ter of the pre­vi­ous year, in Q2 2017 the in­crease in wages and salaries was recorded in all sec­tors. The sharpest rise in av­er­age wages and salaries was ob­served in pro­fes­sional, sci­en­tific and tech­ni­cal ac­tiv­i­ties (that in­clude le­gal and ac­count­ing ac­tiv­i­ties, ad­ver­tis­ing and mar­ket re­search, ar­chi­tec­tural and en­gi­neer­ing ac­tiv­i­ties, man­age­ment con­sul­tancy ac­tiv­i­ties, sci­en­tific re­search and de­vel­op­ment, etc.) – of 13.5 % (with the sharpest in­crease in ac­tiv­i­ties of head of­fices; man­age­ment con­sul­tancy ac­tiv­i­ties, as well as ad­ver­tis­ing and mar­ket re­search), ed­u­ca­tion – of 13.0 %, elec­tric­ity, gas, steam, and air con­di­tion­ing sup­ply – of 11.1 %, agri­cul­ture, forestry and fish­ing – of 11.0 %, as well as trade – of 10.4 % (with the most no­table growth in whole­sale and trade and re­pair of mo­tor ve­hi­cles and mo­tor­cy­cles, as well as other whole­sale). In all men­tioned high­est-level sec­tors of the clas­si­fi­ca­tion of eco­nomic ac­tiv­i­ties, ex­cept for elec­tric­ity, gas, steam, and air con­di­tion­ing sup­ply, the rapid in­crease in the av­er­age wages and salaries was in­flu­enced by the rise in the wage and salary fund and de­cline in the num­ber of full-time em­ploy­ees. Whereas in­crease in the av­er­age earn­ings in elec­tric­ity, gas, steam, and air con­di­tion­ing sup­ply was sig­nif­i­cantly af­fected by ir­reg­u­lar pre­mi­ums and bonuses (ba­sic salary and reg­u­lar pre­mi­ums grew by 6.2 % dur­ing the year).

In Q2 2017, the high­est wages and salaries for full-time work were reg­is­tered in fi­nan­cial and in­sur­ance ac­tiv­i­ties, in­for­ma­tion and com­mu­ni­ca­tion and en­ergy sec­tors. Wages and salaries ex­ceed­ing the na­tional av­er­age in­di­ca­tor were also recorded in pub­lic ad­min­is­tra­tion, pro­fes­sional, sci­en­tific and tech­ni­cal ac­tiv­i­ties, min­ing and quar­ry­ing, wa­ter sup­ply; sew­er­age, waste man­age­ment and re­me­di­a­tion ac­tiv­i­ties, as well as trans­porta­tion and stor­age. The low­est wages and salaries, in turn, were ob­served in ac­com­mo­da­tion and food ser­vice ac­tiv­i­ties, other ser­vice ac­tiv­i­ties (that in­cludes ac­tiv­i­ties of pub­lic and other or­gan­i­sa­tions, re­pair of com­put­ers and per­sonal and house­hold goods, wash­ing and (dry-)clean­ing, hair­dress­ing and other beauty treat­ment, funeral and re­lated ac­tiv­i­ties), real es­tate ac­tiv­i­ties, ed­u­ca­tion, arts, en­ter­tain­ment and recre­ation.

Com­pared to Q2 2016, in Q2 2017 re­gional break­down shows that the av­er­age monthly gross wages and salaries in all re­gions rose faster than the na­tional av­er­age, ex­cept for Riga. Vidzeme and Zem­gale in­di­cate the sharpest an­nual rise – of 10.5 % and 10.1 %, re­spec­tively. In the 2nd quar­ter, the an­nual in­crease in Riga hav­ing the high­est wages and salaries (1038 eu­ros) con­sti­tuted 7.9 %. Lower av­er­age gross wages and salaries still were ob­served in Lat­gale re­gion – 643 eu­ros for full-time work, fol­lowed by Vidzeme with 740 eu­ros, Kurzeme with 774 eu­ros, Zem­gale with 784 eu­ros, whereas in­di­ca­tor reg­is­tered in Pierīga re­gion amounted to 888 eu­ros.

Evija Tri­fanova/LETA

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