bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 17.08.2018 | Name days: Oļegs, Vineta
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

New tender announced for post of SRS director; first requirement – spotless reputation

Latvia’s State Chancellery has announced an open personnel selection process for the post of director of State Revenue Service. Application submission process will last until 14 September.

CEC to decide on four candidates’ possible relation to KGB

Latvia’s Central Election Commission has received results of investigations of all 13th Saeima election candidates from Interior Affairs Ministry’s Information Centre and Latvian Centre for the Documentation of the Consequences of Totalitarianism.

Concord will have to include bread distribution costs in kebab café in its pre-election expenditures

Political party Concord will have to include in its 13th Saeima pre-election campaign expenditures the money spent by one of its candidates on distributing bread to pensioners free of charge in a kebab café in Bolderāja, as reported by TV3 news.

Weekends expected to be warm and at times hot in Latvia

On Friday, 17 August, the sky will partially cloudy again in Latvia, but no major precipitation is expected. Fog may form is certain regions at night thanks to slow wind speed. Maximum air temperature is expected to be around +22° C… +26° C. Night-time air temperature will stay at +11° C… +16° C, as reported by State Environment, Geology and Meteorology Centre.

Latvia’s State Audit requests additional funding to invest in workers

State Audit has requested additional funds in next year’s budget to invest in employees, as head of the institution Elita Krūmiņa mentioned in an interview to Latvijas Radio.

Nearly half of children born in Latvia in 2017 were delivered by mothers with higher education

20,828 children were born in Latvia in 2017. Almost half of them were born to mothers having higher education. Out of the total number of newborn children mothers, 7,229 or 34.7 % had acquired upper secondary general or vocational education and 2,775 or 13.3 % had basic education or lower.

«Steel Magnolia» named Lithuania's most influential politician for fourth consecutive year

Lithuanian President Dalia Grybauskaitė, dubbed as «Steel Magnolia» by foreign press, remains the most influential politician in the country for the fourth consecutive year. In two separate polls, one by the popular ratings magazine Reitingai and the other by pollster Spinter Tyrimai, she appeared on top, being followed by Saulius Skvernelis, Prime Minister, Ramūnas Karbauskis, the leader of the ruling Lithuanian Farmers and Greens Union (LFGU), Valdas Adamkus, ex-president, and Vytautas Landsbergis, Lithuania's first post-independence leader.

Ex-director: Rundale Castle Museum should be managed with the same ideals as before

In the years to come Rundale Castle Museum should be managed with the same ideals as before, says the soon ex-director of the museum Imants Lancmanis, who intends to retire at the end of this year.

Star Rating determines the best schools in Latvia

According to the 2018 Star Rating, Riga State Gymnasium No.1 remains in the lead among Latvia’s schools. Daugavpils Russian Secondary School – Lyceum is second, and Riga State Gymnasium No.2 is third.

ABLV Bank assets worth EUR 21.052 million were recovered in July

Liquidators of ABLV Bank have recovered assets worth EUR 21.052 million in July. This includes EUR 11.602 million recovered from issued loans, EUR 7.644 million from recovered/sold securities, EUR 1,792 million from loans provided to credit institutions, and EUR 14,000 from sales of real estate and other types of property, according to the account published in Latvian Herald.

Concerns over Turkish crisis cause world stock market decline

Stock prices around the world took a massive dive on Wednesday, 15 August, as concerns over Turkish crisis’ possible influence and investors’ attempts to get rid of risky assets surfaced again.

Election commission receives word some candidates’ possible non-compliance with the law

Latvia’s Central Election Commission has received information regarding possible non-compliance of multiple deputy candidates with requirements of the Saeima Election Law, says CEC chairman Arnis Cimdars.

African swine fever found in domestic pigs in Saldus; inspectors investigate illness in Unguri

African swine fever has been found in domestic pigs in Saldus Country’s Zaņa Parish. The infection was found in four domestic pigs. It cannot be excluded that ASF may have entered SIA Druvas Unguri farm’s pig enclosure along with sawdust or cars, as reported by Food and Veterinary Service Public Relations Office manager Ilze Meistere.

Lithuania lays symbolic rail on restored Mažeiķi–Reņģe railway line

Lithuania’s Lietuvos geležinkeliai railway company’s director general Mantas Bartuška and Polish oil concern Orlen manager Daniel Obatjek laid a symbolic rail on the restored railway route connecting Orlen Lithuania owned Mažeiķi oil processing plant in Lithuania and Reņģi in Latvia this Tuesday, 14 August.

Unemployment level in Latvia down to 7.7% in Q2 2018

In Q2 2018 Latvian unemployment rate constituted 7.7 %. Compared to the previous quarter, unemployment rate fell by 0.5 percentage points, while over the year it dropped by 1.2 percentage points.

Saeima approves stricter requirements for fast loans

On Tuesday, 14 August, Saeima’s Economic Committee supported in the second reading amendments to the Consumer Rights Protection Law. The legislative draft states that total loan costs that exceed 0.07% a day from the loan amount are unacceptable and non-compliant with good practice, as reported by Saeima press-service.

Noord Natie develops a new business niche – attracts cruise ships for Ventspils

The first of the cruise ships attracted from SIA Noord Natie Ventspils Terminals will arrive at Ventspils port this week. NNVT stresses that development of cruise business as a new product will help develop tourism in the city and region, as well as provide a contribution to economic development and raise recognition of NNVT terminal and the city.

Culture Ministry announces open contest for post of director of Rundale Castle Museum

Latvia’s Culture Ministry invites contenders to apply for participation in an open contest for the post of director of Rundale Castle Museum. Contenders can submit their applications before 14 September.

Lithuania’s Central Bank to assess information about Latvian VIA SMS Group

Lithuania’s Central Bank has promised to assess information regarding Latvian VIA SMS Group working in the country. This decision is a reaction to the statement made by Seimas National Security and Defence Committee member Arvydas Anušauskas that people associated with former Parex Banka owners work in that company.

Small wineries in Latvia will be allowed to use only local products

Members of Saeima’s Economic, Agricultural, Environmental and Regional Policy Committee supported amendments to the Handling of Alcoholic Beverages Law, stating that small breweries will be allowed to use products grown only in Latvia.

How successful are businesses owned by Saeima deputies? UGF members at the top

Currently politicians in Latvia who own shares in businesses and are also true beneficiaries in capital associations are in the minority. Information compiled by Lursoft shows that 35 Saeima deputies and members of the Cabinet of Ministers own shares in businesses.

Investigation: police arrest man who rammed car into a crowd of people in London

Police in London have arrested a man suspected of ramming barriers outside the parliament building and injuring multiple people in the process.

Number of visitors serviced at Latvian accommodation establishments up 11.3%

A total 772.3 thousand visitors stayed at Latvian tourist accommodation establishments in Q2 2018, which is 11.3 % more than in Q2 2017.

Ministry drops plans to allow doctor assistants rights to write referrals

Latvia’s Healthcare Ministry has dropped the proposal supported by multiple doctor organizations to allow doctor assistants write referrals, according to the project of rules for the organization of healthcare services approved at the state secretaries meeting.

Latvia to test its National Armed Forces’ state defence capabilities

The largest military drills in Latvia’s history – Namejs 2018 – will be taking place in the country from 20 August to 2 September. The goal of this military exercise is to test and improve the country’s National Armed Forces’ readiness to defend the country on their own and as part of a collective defence system, Defence Ministry says.

Newest comments