OECD predicts second most rapid wage rise for Latvia among member states
Average wage in Latvia will grow 4.1% this year. This is the second most rapid increase among member states of Organisation for Economic Co-operation and Development (OECD), according to the organisation’s latest predictions.
OECD predicts that the most rapid average wage growth will be registered in Hungary – by 4.9%. Wage growth a bit slower than Latvia’s was registered in Poland (+3.8%), Czech Republic (+3.7%), Slovenia (+3.5%) and Israel (+3%).
Decline of average wages, on the other hand, is expected in the UK (-0.7%), Italy (-0.6%) and Spain (-0.1%).
OECD reports that average wage in Latvia is EUR 10,173 or EUR 848 a month (USD 20,675).
The organization notes that annual wages below Latvia’s was registered in Chile (USD 20,538), South Africa (USD 19,219), China (USD 17,718), Russia (USD 17,410), Mexico (USD 13,166), Brazil (USD 12,656), India (USD 5,665) and Indonesia (USD 4,582).