Average wages increasing
According to Statistics Estonia, in the second quarter of 2015, the average monthly gross salary in Estonia was 1,082 euros. Compared to the first quarter, the incrase was 7.1 percent, and compared to the second quarter of 2014, 5.8 percent.
Irregular bonuses and premiums also increased by 2.9 percent per employee and influenced the growth of average monthly gross wages and salaries by 0.1 percentage points.
More importantly, real wages, which take into account the change in the consumer price index, increased even faster than the average monthly gross wages and salaries due to the continued decrease in consumer prices.
The average monthly income rose most in real estate, agriculture, forestry and fishing sectors, while the only activity with a decrease was construction.
The average gross wage was 1,054 euros in April, 1,058 euros in May and 1,135 euros in June. The average net income was 871 euros in the second quarter of 2015. Due to the decline in the income tax rate from 21 to 20 percent, the unemployment insurance tax rate from 1 to 0.8 percent and the increase of minimum wages from 355 euros to 390 euros starting from 1 January 2015, this was 7.3 percent more than at the same time last year.
The average hourly gross wages were 6.61 euros - 6.4 percent more than in 2014. The largest increase occurred in arts, entertainment and recreation.
The average monthly labour costs per employee was 1,459 euros and the hourly labour costs was 9.87 euros - a 5.8 and 6.2 percent increase year on year respectively.