Central Statistical Bureau (CSB) working-day and seasonally non-adjusted data published November 28 show that in Q3 2024 average gross wages and salaries in Latvia amounted to EUR 1 703.
Over the year gross monthly earnings have risen by EUR 154 or 9.9 %. Hourly earnings before taxes went up to EUR 11.59 or by 10.9 %. Over the quarter, average gross monthly earnings increased by 1.9 % and hourly earnings by 1.5 %.
Workers take home considerably less in their pay packets, however. Average net wages and salaries (calculated based on the labor taxes applicable to employers) amounted to EUR 1 231 or 72.3 % of the gross earnings and over the year grew by 9.4 %, thus running well ahead of inflation. The real increase in the net earnings, considering price rises, was 8.3 %.
In Q3 2024, median gross wages and salaries (in full-time units) amounted to EUR 1 385. Over the year, median gross earnings increased by EUR 135 or 10.8 % (from EUR 1 250 in Q3 2023). The median net earnings (after taxes) stood at EUR 1 016 and over the year have risen by 9.0 %.
In the public sector, the annual rise in the average earnings was 3.3 percentage points higher than in the private sector (12.3 % and 9.0 %, respectively).
In Q3 2024, average monthly earnings before taxes in the public sector stood at EUR 1 758 while in the private sector they were EUR 74 lower and amounted to EUR 1 684.
Over the quarter, average earnings in the public sector rose by 0.9 %, in the general government sector by 1.1 %, and in the private sector by 2.4 %.
“The sharp annual rise in all mentioned sectors was caused by both higher wages and salaries and fewer workers,” noted the CSB.
In Q3 2024, average gross monthly earnings above the national average (in full-time units) were recorded in financial and insurance activities (EUR 2 801), information and communication (EUR 2 732), professional, scientific and technical activities (EUR 2 121), energy sector (EUR 2 116), public administration (EUR 1 996), mining and quarrying (EUR 1 956), as well as human health and social work activities (EUR 1 772).
The lowest gross earnings were registered in accommodation and food service activities (EUR 1 106 before taxes).
In Q3 2024, compared to Q3 2023, the sharpest rise in the average earnings before taxes was observed in Zemgale (11.4 %), followed by Vidzeme (11.1 %) and Latgale (11.0 %).
The highest average gross earnings (in full-time units) were recorded in Riga (EUR 1 877) while the lowest in Latgale (EUR 1 223, which is 35 % fewer than in the capital). The gap between the average earnings in Riga and regions has slightly narrowed in all regions, except for Riga region and Kurzeme where it stayed stable. The gap between the capital and Zemgale narrowed the most (by 1.3 percentage points).
In Q3 2024, compared to Q3 2023, the sharpest rise in the average earnings before taxes was registered in Lithuania – 10.9 %, Latvia follows with 9.9 % and Estonia with 8.1 %.
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