Wage levels have further to fall

Sep 25, 2009
Staff and wire reports

TALLINN - Estonian Development Fund CEO Ott Parna warns that the unemployment rate will probably remain high for years to come, even if Estonia’s economy starts growing again in the near future, reports news agency LETA. He said this is based upon experience from Finland, where an economic decline in the early 1990s raised the unemployment rate to 15 percent, falling below 10 percent only in 2000. “People will be made redundant, fired from simpler jobs and the new and more productive job ...

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