Av­er­age monthly gross wage in Latvia above EUR 900 in Q2

The Baltic Times - - COMMENTARY - LETA/TBT Staff

In the sec­ond quar­ter of 2017, the av­er­age monthly gross wage for full-time work was EUR 927 in Latvia, grow­ing 8.7 per cent or EUR 74 com­pared to the same pe­riod in 2016, ac­cord­ing to the in­for­ma­tion from the Cen­tral Sta­tis­ti­cal Bureau.

Com­pared to the first quar­ter of 2017 the av­er­age monthly gross wage has in­creased by 4.8 per cent or EUR 42.7 in the sec­ond quar­ter of this year.

In the sec­ond quar­ter of 2017 the gross wages and salaries fund rose by 9.1 per cent or EUR 173.2 mil­lion year-onyear, whereas the num­ber of salaried work­ers grew only by 0.3 per cent or 2,500 (re­cal­cu­lated into full-time units).

The av­er­age monthly net wage in the sec­ond quar­ter of 2017 was EUR 676 eu­ros, which was by 7.8 per cent higher than in the sec­ond quar­ter of 2016. In gen­eral, the av­er­age net wage rose slower than the earn­ings be­fore taxes, the sta­tis­ti­cal bureau said.

Start­ing from Jan­uary 1, 2017, the min­i­mum non­tax­able in­come as ap­plied at one's work­place was re­duced from EUR 75 to EUR 60, and the min­i­mum monthly wage was raised from EUR 370 to EUR 380 or by 2.7 per cent. The in­crease in con­sumer prices reg­is­tered in the sec­ond quar­ter of 2017 (by 3.1 per cent year-on-year) had a down­ward ef­fect on the pur­chas­ing power of the em­ployed pop­u­la­tion - real wages and salaries grew only by 4.6 per cent.

Com­pared to the sec­ond quar­ter of 2016, in the sec­ond quar­ter of this year the rise of wages and salaries in the pri­vate sec­tor con­sti­tuted 9.1 per cent, in the pub­lic sec­tor 8.2 per cent and in the gen­eral gov­ern­ment sec­tor 9.3 per cent.

In the sec­ond quar­ter of 2017, the av­er­age gross wage amounted to EUR 915 in the pri­vate sec­tor and to EUR 954 in the pub­lic sec­tor, whereas in the 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 wage was EUR 901.

Com­pared to the cor­re­spond­ing quar­ter of the pre­vi­ous year, in the sec­ond quar­ter of 2017 the in­crease in wages and salaries was recorded in all sec­tors.

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