Flash comment: Lithuania - November 27, 2020
Wages are seemingly unfazed by the pandemic

  • Gross wages up 10.4% annually in Q3
  • Low earners more often drop out of the labour market

 

Wage growth in Lithuania has been particularly strong given the precarious situation in the global economy. After the slowdown in the 2nd quarter income growth has bounced back in force.  Labour market is in a strange situation as performance different sectors is diverging. Unemployment is rising while manufacturing and other unaffected sectors see significant labour shortages. Labour market frictions coupled with disproportionate unemployment on a lower income spectrum help to push up the average earnings artificially. Nonetheless, the primary reason of strong wage dynamics is the resilience of Lithuanian economy.

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For more information please contact

Vytenis Šimkus Vytenis.simkus@swedbank.lt +370 687 17870

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