Estonian labor costs squeeze producers
- From wire report
TALLINN - Although wage growth slowed slightly at the end of last year and the number employed fell in the first quarter of this year, growth in Estonian labor costs has not really slowed enough to reduce the imbalances that have built up in the labor market over recent years, the central bank Eesti Pank said, reports LETA.The imbalances are visible in a fall in labor productivity and in the extent to which growth in wage costs outstrips that in company profits for the economy as a whole, Eesti Pank said, adding that the pressure on companies from low productivity and thin profit marg...
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