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Saturday 22.07.2017 | Name days: Marija, Marika, Marina
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Average wages increased in Latvia in 2015

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn 2015 average monthly gross wages and salaries in the country reached EUR 818. Average gross wages and salaries rose by 6.8 % or by EUR 52, retaining the increase rate recorded in 2014.

In 2015, average monthly net wages and salaries constituted EUR 603 or 73.7 % of the gross wages and salaries; over the year the rise thereof was faster than increase of wages and salaries before taxes – of 7.6 %. It may be explained by the reduction of Personal Income Tax from 24 % to 23 % on 1 January 2015. At the beginning of 2015, the national minimum wage changed as well – from EUR 320 to EUR 360 (increase of 12.5 %), thus affecting the average wages and salaries, according to data from the Central Statistical Bureau of Latvia.

In 2015, the real net wages and salaries, considering consumer price increase of 0.2 %, rose by 7.4 %.

In 2015, the average gross wages and salaries in private sector comprised EUR 799, in public sector – EUR 855, and in general government sector – EUR 797. In private sector wages and salaries rose more rapidly – by 7.9 % annually, increase in public sector constituted 5.2 %, and in general government sector – 6.2 %.

Compared to 2014, in 2015 average number of salaried workers in the country recalculated at full-time units grew by 1.0 %, while gross wages fund rose by 7.9 %.

In 2015, the most rapid wage and salary increase was recorded in sectors with low labour remuneration: accommodation and food service activities – of 10.6 %, real estate activities – of 9.9 %, arts, entertainment and recreation – of 9.3 %, trade – of 9.0 %, and manufacturing – of 8.5 %. Notable wage and salary rise was observed also in information and communication sector (of 7.8 %); in 2015, average wages and salaries in this sector were the second highest in the country.

Among the above activities, rise in wages and salaries in real estate and manufacturing sectors was influenced by the increase in wage and salary fund and drop in the number of full-time employees, while in other sectors increase was recorded in both – number of employees and wages and salaries.

In 2015, number of salaried workers reduced in energy sector, water supply, sewerage, waste management and remediation activities, as well as in construction.

In 2015, the highest wages and salaries were observed in financial and insurance activities, information and communication, energy, public administration, as well as professional, scientific and technical activities.

In Q4 2015, average monthly gross wages and salaries in Latvia accounted for EUR 844, and during the year they have increased by 7.4 %. Compared to other quarters of 2015, the 4th quarter indicates the most notable rise in irregular premiums and bonuses, while regular wages and salaries went up by 6.1 % during the year.

Compared to Q4 2014, in Q4 2015 wages and salaries in public sector grew by 4.5 %, in general government sector – by 4.9 %, and in private sector – by 9.2 %.

Compared to Q3 2015, gross wages and salaries in the country increased by 1.8 %. Wages and salaries in private sector rose by 1.7 %, in public sector – by 1.9 %, and in general government sector – by 0.2 %.

In Q4, net wages and salaries amounted to EUR 622 – an increase of 8.1 %, compared to Q4 2014.

Ref: 102.109.109.7853


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