Wages up nearly 8% in Latvia last year on average

Data released by the Central Statistical Bureau (CSB) March 1 show that in 2017 the average gross wages and salaries for full-time work in Latvia comprised 926 euros.

Compared to 2016, average wages and salaries rose by 67 euros or 7.9 %, in all economic activities.

But the taxman still claimed his share with average net wages and salaries constituting 676 euros or 72.9 % of gross wages and salaries. The increase (of 7.0 %) was smaller than the rise before taxes.

Considering the consumer price growth of 2.9 % in 2017, the real increase in wages and salaries comprised 4.0 %.

Last year, compared to 2016, the minimum non-taxable minimum applicable at work fell from 75 euros to 60 euros, whereas the national minimum wage rose by 2.7 % from 370 euros to 380 euros.

In 2017, the average gross wages and salaries in the private sector amounted to 915 euros and to 951 euros in public sector, while in general government sector, which includes central and local government institutions, as well as enterprises controlled and financed by the central and local government, to 904 euros.

Wages and salaries in the private sector grew faster (by 8.3 % annually), while rises in the public sector comprised 7.4 % and in the general government sector 8.1 %.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Related articles
Employment
Economy