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Pay gap worsens in Estonia

  • 2013-05-29
  • From wire reports

TALLINN - The fresh standard of living index of the Organization of Economic Cooperation and Development (OECD) points to the considerable difference in incomes of Estonians, reports Public Broadcasting. “Estonia has made progress over the last decade in terms of improving the quality of life of its citizens. Until the financial crisis of 2008, the economy had seen record-breaking growth. Notwithstanding, Estonia still ranks low in a large number of topics relative to most other countries in the Better Life Index,” the OECD noted in its report.

“Money, while it cannot buy happiness, is an important means to achieving higher living standards. In Estonia, the average household net-adjusted disposable income is $12,800 a year, less than the OECD average of $23,047 a year. But there is a considerable gap between the richest and poorest - the top 20 percent of the population earn five times as much as the bottom 20 percent,” the organization says.

The OECD notes that people in Estonia work 1,924 hours a year, more than the OECD average of 1,776 hours.
In general, Estonians are less satisfied with their lives than the OECD average, with 69 percent of people saying they have more positive experiences in an average day (feelings of rest, pride in accomplishment, enjoyment) than negative ones (pain, worry, sadness, boredom). This figure is one of the lowest in the OECD, where the average is 80
percent.