Wages are seemingly unfazed by the pandemic
- Gross wages up 10.4% annually
- 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.
For more information please contact
Vytenis Šimkus Vytenis.firstname.lastname@example.org +370 687 17870
This email is sent through the web-based distribution system of Swedbank Macro Research. As a subscriber you can change your settings regarding what publications you will receive by clicking “Change your settings”. You can also unsubscribe from this particular newsletter by clicking "Unsubscribe". Information on the Swedbank Principles of processing personal data can be found here.