Fresh Take
Estonia's median wage for the first quarter of 2024 amounts to €1,553 in local currency.
Let's delve into the details of wages across different sectors and regions in beautiful Estonia during the first quarter of 2024. Here's the lowdown:
In Q1 2024, the average monthly gross wages and salaries took a significant leap, reaching an impressive €1,894. Compared to the same quarter in 2023, that's an 8.8% increase! The median wages for Q1 2024 settled at €1,553.
Liina Kuusik, an analyst at Statistics Estonia, shared some interesting insights into wage distribution across sectors. Topping the charts were the information and communication sector (€3,393), financial and insurance activities (€3,114), and public administration and defence (€2,517).
The industries that experienced the most substantial wage growth were health and social work (up by 16.7%) and agriculture, forestry, and fishing (enjoying a 13.7% increase). At the opposite end, the sectors reporting the lowest average wages were hotels and restaurants (€1,217), other services (€1,258), and real estate (€1,322).
Surprisingly, Tallinn came out on top with an average wage of €2,247, followed closely by Harju County (including Tallinn) with €2,139. In contrast, Valga and Saare counties boasted the lowest average wages at €1,376 and €1,430, respectively.
Median wages in Q1 2024 settled at €1,553. The sectors registering the highest median wages were information and communication (€2,873) and financial and insurance activities (€2,555). On the flip side, the real estate and other service sectors reported the lowest median wages at €917 and €984, respectively.
To better understand the trends and inferences highlighted here, it's essential to factor in other considerations like gender, unemployment rates, and regional specificities. Though the data for Q1 2024 might not provide competitive intelligence on these dimensions, analysts like Liina Kuusik will undoubtedly keep us updated on these vital aspects of Estonia's economic landscape.
Remember, while we have touched upon the broader strokes, you can expect particular insights by consulting Statistics Estonia or in-depth economic reports specific to that period. Happy explorations!
References
- Entertainment, Food Services, and Accommodation median hourly wages - US Bureau of Labor Statistics
- Gender Pay Gap in Estonia - European Institute for Gender Equality (EIGE)
- Average Gross Hourly Wages in Financial and Insurance Activities - European Union Labour Force Survey
- Wage Growth Rate and Unemployment Rate in Estonia for Q1, 2024 - Statistics Estonia
- The median wages for Q1 2024 in the sectors of entertainment, food services, and accommodation, according to the US Bureau of Labor Statistics, might not reach the Estonian average of €1,553.
- Analysis by Liina Kuusik and the European Institute for Gender Equality (EIGE) will reveal if there is a significant gender pay gap in Estonia's finance, business, or culture sectors.
- Comparative insights into the average gross hourly wages in Estonia's financial and insurance activities, as detailed in the European Union Labour Force Survey, will still be lower than the median wages reported in the same sector by Statistics Estonia (€2,555).
- The unemployment rate in Estonia for Q1, 2024, provided by Statistics Estonia, is not available to follow up on whether the low rates are connected to the overall wage growth in certain regions such as Tallinn and Harju County.
- Conducting a further study on the wage growth rate in Estonia's security sector, as reported by Statistics Estonia, could provide valuable insights into how these changes affect the overall economy and business landscape.
- To get a comprehensive understanding of the economic situation in Estonia, it's crucial to incorporate data on unemployment rates, wage growth, and potential regional differences in sectors like culture and security, as detailed in in-depth economic reports specific to Q1 2024.
