The Hike in Q1 2024 Wages in Estonia: A Breakdown
Estonia's Median Quarter 1, 2024 Earnings Set at €1,553
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Here's a lowdown on the wage situation in Estonia during the first quarter of 2024. Stats Estonia, the nation's official stats agency, reveals that average monthly gross wages and salaries soared by 8.8% compared to the same period the previous year, hitting €1,894. The median wages for the quarter were €1,553 and €1,424, respectively, in Q1 2024 and 2023.
Liina Kuusik, an analyst at Stats Estonia, shed light on sectors that saw the highest wages and salary averages in Q1 2024: information and communication (€3,393), financial and insurance activities (€3,114), and public administration and defence and compulsory social security (€2,517).
Notably, the sectors with the heftiest wage increases in Q1 2024 were health and social work (16.7%) and agriculture, forestry, and fishing (13.7%), Kuusik highlighted.
The areas with the lowest wages consisted of hotels and restaurants (€1,217), other services (€1,258), and real estate (€1,322).
When it comes to location, Tallinn boasted the highest average wages (€2,247), followed by Harju County (€2,139) and Tartu County (€1,888). At the flip side, Valga County (€1,376) and Saare County (€1,430) had the lowest average wages.
The median wages were €1,553 in Q1 2024. By economic activity, median wages were highest in information and communication (€2,873) and financial and insurance activities (€2,555), while the lowest median wages were documented in real estate activities (€917) and other service activities (€984).
However, it's worth noting that official statistics don't give a detailed breakdown of the exact wages by sector for Q1 2024, though they continuously monitor wages and associated economic indicators. For comprehensive figures and identification of sectors with the largest wage increases in Q1 2024, you'd need to refer to the latest reports or datasets from Stats Estonia's wages and salaries and labour costs section.
In the bigger picture:
- While the specific figures by sector for Q1 2024 aren't provided in the data, the financial and insurance sector tends to offer higher wages, albeit with gender disparities.
- Construction sector prices showed a slight increase in early 2025, potentially linked to wage rises in that sector.
- The overall wage growth environment in Estonia reflects inflationary pressures affecting wages, with the consumer price index up by 3.5% and the gender pay gap most pronounced in financial and insurance activities.
So, if you're curious to learn about precision numbers, sectoral wage increase rankings, or dig deeper, consulting the latest detailed reports or datasets from Stats Estonia is your best bet. I can even help navigate you through these resources for a comprehensive understanding. 🤓🌟📈
- In Q1 2024, Estonia's capital city, Tallinn, reported the highest average wages, indicating a potential correlation between urban locations and higher business remuneration.
- The financial and insurance activities sector, which saw an average wage of €3,114 in Q1 2024, is a significant contributor to Estonia's business culture and the nation's finance sector.
- To promote cultural diversity and gender equality within Estonia's business sector, it's essential to address existing wage disparities, especially in sectors like financial and insurance activities, where the gender pay gap is most pronounced.
