bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 15.10.2018 | Name days: Hedviga, Helvijs, Eda
LatviaLatvia

Growth rate of wages in Latvia currently in decline

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAverage wages and salaries in Q2 2014 have risen slower than in the first quarter of this year as compared to the corresponding periods of the previous year.

In Q2 2014 average monthly gross wages and salaries in Latvia, compared to Q2 2013, increased by 6.4% from 716 euros to 762 euros. In its turn in Q1 this year annual increase of the remuneration was 7.5% (from 689 to 740 euros), according to latest data of the Central Statistical Bureau of Latvia.

In private sector wages and salaries rose slightly faster – by 7.2% annually, but in public sector – by 5.3%. In Q2 2014 average gross wages and salaries in private sector comprised 736 euros, but in public – 810 euros. In general government sector wages and salaries grew by 5.7% from 698 euros to 738 euros.

The average number of salaried employees in the country recalculated at full-time units, which is applied for calculation of average wages and salaries, in Q2 this year compared to Q2 2013 rose only by 0.9% or 6.6 thousand, while gross wages fund grew by 7.4%.

In Q2 2014 average monthly net wages and salaries comprised 557 euros, and over a year they rose more rapidly than wages and salaries before taxes – by 8.4%. It can be explained with the decrease of employee social security contribution rate from 11.0% to 10.5%, as well as with the increase of non-taxable amount of personal income tax from January 1 of this year.

In Q2 2014 the real increase of annual net wages and salaries, considering rise of consumer prices of 0.7%, constituted 7.6%.

Compared to Q1 this year, gross wages and salaries grew by 2.9%, in private sector – by 1.6%, but in public – by 5.2%.

Still the highest level of average wages and salaries was in financial and insurance activities sector, information and communication services, energy sector and public administration. But the lowest average wages and salaries were observed in accommodation, food and other service activities sectors, education, art, entertainment and recreation sectors and trade.

In Q2 2014, compared to the same period of the previous year, average gross wages and salaries rose more rapidly in real estate activities sector – by 11.0%, in financial and insurance activities sector – by 9.8%, in accommodation and food service activities sector – by 9.7%, in administrative and support service activities sector – by 9.5%, as well as in mining and quarrying – by 9.0%.

In real estate activities sector wage and salary fund grew more rapidly – by 11.2%, while the number of employees recalculated at full-time units increased slightly – by less than one percent. In its turn, already since the economic crisis, financial and insurance sector is experiencing gradual reduction of the number of employees, while changes of wage and salary fund maintained positive trend.

Ref: 102.109.109.5782


Leave a reply

EC Vice-President: growth of Latvia’s economy is delayed by banking sector’s problems

Development of Latvia’s economy is delayed by problems in the country’s banking and transit sectors, says European Commission’s Vice-President Valdis Dombrovskis.

Danske Bank's rating lowered over Estonia branch scandal

American ratings agency Moody's has lowered its long-term ratings for Denmark's larges lender, Danske Bank, embroiled in a scandal of possible money laundering in Estonia.

Residents’ debts before non-finance companies remain the highest in Latvia

The debts of Latvian residents before non-finance companies have doubled over the course of the past half-year, reaching 305,000 unpaid bills, according to data from the Credit Information Bureau.

Hungary enforces ban on living rough in public areas

In Hungary, a constitutional rule, which bans people from living in public areas, has come into effect with imprisonment as a potential penalty.

Minister: current government may yet decide on MPC reform

The decision on reformation of the mandatory procurement component may be made by Latvia’s current government, said Economy Minister Arvils Ašeradens in an interview to Latvijas Radio.

Brexit talks unable to solve Irish border issue days before decisive EU summit

Weekend talks between the leading Brexit negotiators did not end with a draft settlement as there is no agreement on the issue of the Northern Irish border shortly before a make-or-break European Union summit.

Latvian ministers do not support merging healthcare and welfare ministries

Latvian Healthcare Minister Anda Čakša and Welfare Minister Jānis Reirs do not support the proposal on merging their respective institutions, as both ministers said, commenting on the information regarding new Saeima parties’ plans for the two ministries.

Expert: there are no reasons to believe Latvia could change its Euro-Atlantic direction

There are no reasons for concerns that Latvia’s new government may change the country’s Euro-Atlantic direction. Nevertheless, the question how Latvia positions itself in the Euro-Atlantic community will remain topical, says director of the Latvian Institute of International Affairs Andris Sprūds.

Merkel's partners lose historic majority in Bavaria state election

German Chancellor Angela Merkel's partner party suffered their worst election result since 1950, losing votes to the far-right and the ecologist Greens.

Week’s beginning to remain warm in Latvia; wind and rain to return soon after

Weather is expected to remain warm in Latvia at the beginning of the week – days will be dry, sunny and warm. However, things will change in the second half of the week: weather will become cold and windy. Days will also become rainy, as reported by Latvian Environment, Geology and Meteorology Centre.

Week in Lithuania. Vilnius Mayor Šimašius to run for re-election

Members of the Lithuanian Liberal Movement's Vilnius branch have decided to nominate Remigijus Šimašius, the capital's current mayor, as their candidate in next year's mayoral election, giving him the mandate to form a public election committee.

BNN summary of the week: government formation in Latvia; medicinal marijuana in Lithuania; EU vs. Lembergs

BNN offers a summary of this week’s topical news in a variety of categories: Progress; Justice; Change; Outlook; Future; Growth; Government.

Railway freight volumes in Latvia up 8.4% in nine months

The volume of railway freight has grown 8.4% in Latvia in the first nine months of 2018 when compared to the same period of 2017 and was 36.11 million, according to data compiled by Latvia’s Transport Ministry.

NCP offers forming coalition with five to seven parties, leaving UGF and Harmony in opposition

New Conservative Party has offered parties elected in the Saeima to form a coalition consisting of NCP, KPV LV, Attīstībai/Par, National Alliance and New Unity.

NA leader: NCP has invited National Alliance to work together in new coalition

In the second phase of government-formation talks, New Conservative party offered National Alliance ‘All for Latvia!’ – ‘For Fatherland and Freedom/LNNK’ to work in the forming coalition, said NA co-chairman Raivis Dzintars.

State Audit: non-transparent teachers’ pay system creates risk of misuse of state funds

The unclear, confusing and non-transparent teachers’ pay system creates risks of misuse of state funds and the profession’s prestige, says Latvian State Auditor Elita Krūmiņa.

Estonian press: Saeima «difficult even for Latvians»

Estonian media have evaluated that the result of the Saeima election in neighbouring Latvia has produced an especially difficult negotiating ground with seven elected parties, but the influence of oligarchs seems to have been reduced.

European court prohibits Aivars Lembergs from governing Ventspils

On Thursday, 11 October, European Court for Human Rights announced its verdict in the case in which Lemgergs sued Latvian state. Judges unanimously declined the complaint submitted by the formally dismissed Mayor of Ventspils Aivars Lembergs in relation to possible violation of election rights, as reported by Latvia’s Foreign Affairs Ministry.

Kyiv receives historic approval to separate from Russian Orthodox Church

Ukraine has received an approval to found an independent church in what Kyiv believes is an essential measure against Russian meddling in its affairs.

No government formation announcement expected Latvia this week

With KPV LV refusing to attend repeated talks with the New Conservative Party on Friday, 12 October, and Attīstībai/Par! party announcing commencement of mutual talks with separate political forces, chances of hearing any news about the next government’s composition this week become zero.

EU sees Brexit deal close, but London has to drop its key red line

Michel Barnier, the head Brexit negotiator of the European Union, has stated a Brexit agreement could be achieved next week. To avoid impediments on trade between Northern Ireland and the rest of the UK, London would have to abandon red line and agree to a customs union.

Weather in Latvia to remain summer-like

At the end of this week and the beginning of the next weather in Latvia will be dictated by a strong and wide anticyclone. Because of that, weather will be warm, sunny and without precipitation, as reported by Latvia’s State Environment, Geology and Meteorology Centre.

Latvia’s finance minister to join Latvian Farmers’ Union

Latvia’s Finance Minster Dana Reizniece-Ozola, who currently represents For Latvia and Ventspils party, will soon join Latvian Farmers’ Union – a party that is also part of the Union of Greens and Farmers.

Lithuanian MPs back legalisation of marijuana in prescription medications

Lithuanian Saeima has adopted a bill to allow doctors to prescribe marijuana-based medications.

Volume of pesticides used on cereals and rape reduces in Latvia

Compared to 2012, the volume of pesticides used on one hectare of cereal cropland reduced by 5.8 % and of that used on one rape hectare by 11.7 % in 2017.

Who would be the best choice for the next prime minister of Latvia?

View Results

Loading ... Loading ...

Polls Archive



Category feed: Feed: