Employers are struggling for employees still remaining in Lithuania and are raising wages at the fastest rate in the European Union, but emigration is hurting long term economic growth.
wages
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Lithuania's minimum monthly wage will be increasing on Friday by €30 to €380. To read this article, try a €5.99 monthly subscription by clicking here.
Authorities should stop increasing the minimum wage, the newly appointed Minister of Finance Rasa Budbergytė has said. To read this article, try a €5.99 monthly subscription by clicking here.
The average wage in Latvia has reached €603 after tax in 2015, growing 7.6% from the year before.
The average Lithuanian’s monthly pay packet grew by 5.9% in the final quarter of 2015, with a 4.6% rise in the public sector but a larger 6.7% rise in wages in the private sector.
A radical transformation of the education system in Lithuania is needed to narrow the wage gap between Lithuania and other European countries, according to Rokas Grajauskas, chief economist for the Baltic countries at Danske Bank, writing in Lietuvos Žinios.
The highest monthly salary in Lithuania last year hit €250,000 with about 200 people earning into the tens of thousands monthly according to TV3 news.
Even the €8 increase in the average pension will not help pensioners in Lithuania, who receive one of the most frugal pensions in Europe. President Dalia Grybauskaitė is encouraging lawmakers to index pensions, which would make them increase together with growing average wages in the nation, and the...
Nerijus Mačiulis, chief economist at Swedbank Lithuania, says that although Lithuania's economy contracted by 0.6 percent in the first quarter of this year, such an economic stumble nevertheless did not halt job creation or growth of wages: the number of employed people rose by 1.7 percent in a year...
