TALLINN - SEB bank analyst Ruta Arumae said that the statistics published on Sept 3 confirmed that the wage increase of employees that took place in the second quarter had become possible at the expense of profits for companies, reports Postimees Online. “This happened since the increase of added-value created in the second quarter was small and the salaries of employees grew more than the added-value,” said Arumae.Growth of profits has slowed for the third quarter in a row, and in the second quarter of this year fell 5 percent as compared to a year ago. Added-value grow...
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