Income decreased for 21% of Latvia’s households over past year

Over a fifth (21%) of Latvian households have had their incomes decline over the past year, according to preliminary data from the survey of residents published June 7 by the Central Statistical Bureau of Latvia (CSB) on income and living conditions in 2021.

For 66% the income has not changed, while for 13% the income has increased.

Over the next 12 months, a majority (78%) of households predict that their total income will remain unchanged, 15% – that income will grow and 7% expect income to fall.

Of those households that reported income decline over the past year, nearly a third (30%) expect income to rise, more than half (52%) forecast that income will remain unchanged, while 18% assume incomes will fall further.

Until June 30 the CSB is carrying out survey on Income and Living Conditions (EU-SILC). Within the framework of the survey, information is also acquired on the impact of Covid-19 crisis on mental health of population, their income, opportunities to work and study remotely. Provisional data are acquired from answers of 4 thousand households, which is about two thirds of the expected answers.

LSM.LV

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