Bank of Estonia: Growth in labour costs should decelerate soon

  • 2016-11-16
  • BNS/TBT Staff
The unemployment statistics published by Statistics Estonia indicate that a reduction can be expected in the speed of growth of labour costs, which has been faster than GDP growth for some time, the central bank said. It said that upward pressure on wages is expected to be reduced by an increase in labour supply. According to Statistics Estonia, unemployment rose to 7.5 per cent in the third quarter of 2016 as labour market participation rate rose but the rate of employment sank. The number of people employed was 1.2 per cent lower than in the third quarter of 2015, with a...
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