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Estonian Wages Surge in 2024: Analysis Reveals Sectoral and Regional Trends

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Estonian Wages Surge in 2024: Analysis Reveals Sectoral and Regional Trends
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According to data from Statistics of  Estonia, the average gross monthly wages and salaries in the fourth quarter of 2023 stood at €1,904, marking a notable 9.7% increase compared to the same period in the previous year. Throughout 2023, the average monthly gross wages and salaries amounted to €1,832, reflecting a substantial 11.3% surge from 2022 figures. Additionally, the median monthly gross wages and salaries were reported at €1,578 in the fourth quarter of 2023 and €1,501 for the entirety of 2023.

An analyst, highlighted that during the fourth quarter, the sectors with the highest average monthly gross wages and salaries were information and communication (€3,271), finance and insurance activities (€2,902), and energy supply (€2,548). Conversely, the sectors with the lowest average gross wages were accommodation and food service activities (€1,193) and real estate activities (€1,310). Kuusik also noted significant increases in average monthly wages in education (18.6%) and human health and social work activities (15.4%).

Geographically, Harju County (including Tallinn) recorded the highest average monthly gross wages and salaries at €2,121, followed by Tartu County at €1,941. On the other hand, Valga (€1,408) and Saare (€1,449) counties reported the lowest average wages. Year-on-year, the most substantial growth in wages and salaries was observed in Ida-Viru (13%) and Valga (11.5%) counties.

Examining median wages, which represent the midpoint where half of employees earn more and half earn less, the fourth quarter of 2023 saw figures of €1,578. By economic activity, median wages were highest in information and communication (€2,812) and finance and insurance activities (€2,400), while they were lowest in real estate activities (€913) and other service activities (€970).

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