Q4 2023 Average Earnings in Estonia Amount to €1,904
Hey there! Let's dive into a fascinating look at wage trends in beautiful Estonia.
📈 Wages and Salaries in 2023
According to Statistics Estonia, the official statistics agency of the country, average gross monthly wages and salaries were a whopping €1,904 in the fourth quarter of 2023, 9.7% higher than in the same quarter of the previous year.
In 2023 as a whole, average monthly gross wages and salaries were €1,832, marking an impressive 11.3% increase compared to 2022. The median monthly gross wages and salaries were €1,578 in the fourth quarter of 2023 and €1,501 in 2023 as a whole.
📊 Top-Paying Industries
Liina Kuusik, an analyst at Statistics Estonia, revealed that the highest average monthly gross wages and salaries in Q4 were found in information and communication (€3,271), finance and insurance activities (€2,902), and energy supply (€2,548). On the opposite end of the spectrum, the lowest average wages were recorded in accommodation and food service activities (€1,193) and real estate activities (€1,310).
📈 Sector-wise Wage Growth
Kuusik pointed out that the average monthly wages and salaries increased the most in education (18.6%) and human health and social work activities (15.4%).
🗺️ County-wise Wage Growth
The highest average monthly gross wages and salaries were recorded in Harju County (including Tallinn) (€2,121) and in Tartu County (€1,941). Conversely, the lowest average wages were found in Valga (€1,408) and Saare (€1,449) counties.
Remarkably, the biggest growth in wages and salaries occurred in Ida-Viru (13%) and Valga (11.5%) counties year-on-year.
📊 Median Wages
Median wages, or the point at which half of employees earn more and half earn less, were €1,578 in the fourth quarter of 2023. By economic activity, median wages were the highest in information and communication (€2,812) and finance and insurance activities (€2,400). On the other hand, median wages were the lowest in real estate activities (€913) and other service activities (€970).
🤔 Looking Ahead: 2024
Though specific data on wages in different counties for 2023 is unavailable, it's worth noting that, in 2024, the average monthly gross wages and salaries in Estonia rose to €1,981, marking an 8.1% increase from 2023. By the fourth quarter of 2024, the average monthly gross wages and salaries surged to €2,062, reflecting an 8.3% increase compared to the same quarter in 2023 [1].
However, it's essential to keep in mind that, during this period, the employment rate in Estonia decreased, with sectors like construction and retail experiencing declines. The industrial sector was particularly affected, with employment falling by nearly 7% before showing some recovery towards the end of the year [2].
For detailed data specific to Estonian counties or more nuanced insights, one would need to consult regional statistics from Estonia's statistical agencies or local economic reports. Stay tuned for more exciting wage trends as we continue to monitor the employment landscape in this vibrant Baltic nation!
In 2024, the average monthly gross wages and salaries in Estonia's finance and insurance activities sector are expected to further increase, potentially surpassing €3,000, given the trend observed in Q4 of 2023.
Remarkably, although average wages in Tallinn, the capital city of Estonia located in Harju County, were the highest among all counties, the counties with the most significant wage growth in 2023 were Ida-Viru and Valga, suggesting a potential shift in the economic landscape of Estonia.
