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Swedbank: Wage growth accelerated a bit in the third quarter in Estonia

27.11.2020

SwedbankGross wage growth accelerated from 1.0% in the second quarter to 3.1% in the third quarter, over the year, as economic activity increased, and the government’s wage support programme ended (substantially lower wages was one of the indicators to qualify for the government support). This is, again, very much in line with our expectations (which was +3.0%, over the year).

In the fourth quarter, wage growth should subside a bit, as the virus and new restrictions hit the region. But we still expect wages to grow, around 3.0% in 2020, on average, and 3.5% in 2021.

The average wage level decreased in two sectors, tourism and trade. Wage growth was still strong in mining, IT, energy, and finance, where average monthly gross wage is among the highest. In the construction sector, wages remained the same as last year. Wages in other sectors increased.

Seonduvad uudised

  • 30.05.2018 Swedbank: Wage growth accelerated in the first quarter
    The growth of the average gross wage accelerated to 7.7%, over the year, in the first quarter of 2018. Families’ assessment of their financial situation is the highest on record. Rapid wage growth continued in the first quarter, around 8%,         
  • 28.02.2020 Swedbank: Last year’s economic growth surprised on the upside
    In 2019, Estonian GDP growth was 4.3% y/y in real terms and 7.7% y/y in nominal terms. Although, the growth slowed from previous year, it was still strong and exceeded our expectations – our forecast, published in January, was 3.7%.         
  • 07.04.2022 Swedbank: Inflation reached new highs in Estonia in March
    Prices rose by 15.2% year-on-year and 2.7% month-on-month in March. Prices were lifted by more expensive energy and food. Inflation was previously as rapid in the 1990s, during the first years of Estonia’s re-independence. Food prices rose by 13.8%         
  • 06.05.2022 Swedbank: Inflation close to 20% in Estonia
    Consumer prices rose more than expected in April. Prices grew by 18.8% year-on-year and 3.6% month-on-month. Inflation accelerated due to the end of government’s energy subsidies on electricity, gas, and central heating in March. Ukrainian refugees         

Meist

Tõnu Toompark on kinnisvaraanalüütik, -konsultant ja koolitaja, kelle tegevusvaldkonnad on valdavalt: * elamispindade turg, turutrendid, tehingud, hinnad ning turuülevaated; * uute korterite arendamise mahud, müük, hinnad ja analüüsid; * üürituru pakkumine, tehingud ja hinnad ning üüriinvesteeringud, tasuvusarvutused; * elamispindade kättesaadavus numbrilisena; * koolitused eeltoodud valdkondades. Koolituste valdkonnaga on Tõnu Toompark seotud üle 25 aasta. Ta on avaldanud sadu ja sadu kinnisvarateemalisi analüüse, artikleid ja kommentaare. Tõnu Toompark on läbi viinud koolitusi nii kesk-, kutse-, kõrg-, kui ülikoolides, lisaks mitmetes koolitusettevõtetes. Näiteks Kinnisvarakool, Tallinna Tehnikaülikool, Eesti Ettevõtluskõrgkool Mainor, Estonian Business School, Tartu Ülikool, Tallinna Majanduskool.

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