Wage growth continues in Latvia

Data released by the Central Statistical Bureau (CSB) November 29 show that in the 3rd quarter of 2018, compared to the 3rd quarter of 2017, the average monthly gross wages and salaries grew by 8.0 % or EUR 75, reaching EUR 1 006 for full-time work.

However, compared to the 2nd quarter of 2018, gross wages and salaries increased much more modestly, by just 0.2 % or EUR 2.

Wages and salaries in the public sector grew faster than in the private sector – by 8.5 %, compared to 7.7 %, respectively. The average gross wages and salaries constituted EUR 992 in the private sector and EUR 1 036 in the public sector, while in the general government sector, which includes central and local government institutions, as well as enterprises controlled and financed by the central and local government, the average wages and salaries rose to EUR 993 or by 8.8 %.

Once labor taxes are taken into account in the 3rd quarter of 2018, average net wages and salaries constituted EUR 744. Compared to the previous quarter, net wages and salaries actually fell by 22 euro cents, though over the year, net wages and salaries increased by 9.5 %.

Considering annual consumer price growth of 2.9 %, the real increase in net wages and salaries was a more modest 6.4 %.

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