Over the year they have risen by EUR 146 or 9.6 %, which is a slightly smaller increase compared to the 11.0 % growth recorded in Q1 2024.
Hourly earnings before taxes went up by 8.9 %. Over the quarter, average gross earnings increased by 2.9 % and hourly earnings by 7.2 %.
Average net wages and salaries (calculated based on the labour taxes applicable to employers) amounted to EUR 1 213 or 72.6 % of the gross earnings and over the year grew by 8.9 %, thus running ahead of inflation. The real increase in the net earnings, considering price rises, was 8.0 %.
Median monthly earnings EUR 1 350
In Q2 2024, gross median wages and salaries (in full-time units) amounted to EUR 1 350. Over the year, gross median earnings increased by EUR 135 or 11.1 % (from EUR 1 215 in Q2 2023). The net median earnings (after taxes) amounted to EUR 991 and over the year have risen by 11.6 %.
In the public sector, the annual rise in the average earnings was 4.1 percentage points higher than in the private sector (12.4 % and 8.3 %, respectively).
In Q2 2024, average monthly earnings before taxes in public sector stood at EUR 1 743 while in private were EUR 99 lower, i.e., EUR 1 644. Average earnings in general government sector, which includes central and local government institutions as well as enterprises controlled and financed by the central and local government, went up to EUR 1 684 (by 12.9 % over the year).
Over the quarter, average earnings in public sector rose by 5.2 %, in general government sector by 4.8 %, and in private sector by 1.8 %.
Average monthly gross earnings by sector
|
|
Q2 2023, EUR |
Q1 2024, EUR |
Q2 2024, EUR |
Change in Q2 2024, % compared to |
|
|
Q2 2023 |
Q1 2024 |
||||
|
Total |
1 525 |
1 623 |
1 671 |
9.6 |
2.9 |
|
private sector |
1 518 |
1 614 |
1 644 |
8.3 |
1.8 |
|
public sector * |
1 551 |
1 657 |
1 743 |
12.4 |
5.2 |
|
general government sector |
1 492 |
1 606 |
1 684 |
12.9 |
4.8 |
* Excluding foundations, associations, funds, and commercial companies thereof.
In Q2 2024, compared to Q2 2023, the estimated national wage and salary fund grew by 8.5 % or EUR 290.2 million while the number of salaried workers (recalculated into full-time units) reduced by 7.5 thousand people or 1.0 %.
In terms of economic activities, the sharpest rise in average earnings was registered in education (19.6 %), significantly boosting the annual growth in the public sector. Notable increase was also registered in other service activities (which include activities of religious, political, etc. membership organisations, repair of computers and personal and household goods, washing and (dry-)cleaning of textile and fur products, hairdressing and other beauty treatment, funeral and related activities, etc. personal service activities) (15.6 %), administrative and support service activities (14.4 %), and accommodation and food service activities (11.5 %).
The sharp annual rise in average earnings in all mentioned sectors, except for accommodation and food service activities, was influenced by both higher wages and salaries and fewer workers.
In Q2 2024, average monthly gross earnings above the national average were recorded in financial and insurance activities (EUR 2 847), information and communication (EUR 2 661), energy sector (EUR 2 217), professional, scientific and technical activities (EUR 2 102), public administration (EUR 1 959), mining and quarrying (EUR 1 824), human health and social work activities (EUR 1 754), as well as water supply; sewerage, waste management, and remediation activities (EUR 1 747).
The lowest gross earnings were registered in accommodation and food service activities (EUR 1 094 before taxes).
Rīga remains the wage leader
In Q2 2024, compared to Q2 2023, the sharpest rise in the average earnings before taxes was observed in Zemgale (12.0 %), followed by Latgale (11.6 %) and Vidzeme (10.9 %).
The highest gross average earnings (in full-time units) were recorded in Riga (EUR 1 842 ) while the lowest in Latgale (EUR 1 194, which is 35 % fewer than in the capital). The gap between the average earnings in Riga and regions has slightly narrowed in all regions, except for Kurzeme. The largest drop (of 2.1 percentage points) was registered in Zemgale.
Average earnings rising slower in all Baltic states
Since Q2 2023, annual growth of the average earnings has slowed down in all Baltic states. In Estonia, average earnings before taxes rose by 7.2 % over the year. Lithuania had the sharpest rise – 9.8 % – and Latvia slightly smaller – 9.6 %.
