Average monthly gross wage in Latvia above EUR 900 in Q2
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.