Opinions are divided on why Lithuanians make relatively low wages, even compared to their northern neighbours in Estonia. As pointed out by the chief economist for Swedbank, Nerijus Mačiulis, there is a plethora of reasons […]
Lithuania, along with Hungary, Latvia, Romania and Bulgaria, offer the lowest production costs in the EU, the latest Eurostat data shows. Average hourly labour costs in the manufacturing industry in Lithuania in 2015 was €6.7 […]
Finance Minister Rasa Budbergytė has met with the Labour Party parliamentary group to discuss possibilities to increase public sector salaries next year. “We can promise specific values only when we have clear budget figures. We […]
Lithuania’s minimum monthly wage will be increasing on Friday by €30 to €380.
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Data gathered by SoDra, the state social insurance administrator suggests that wages in Lithuania may be moving from the black market The data indicates that the state manged to moved up to €68 million in […]
Authorities should stop increasing the minimum wage, the newly appointed Minister of Finance Rasa Budbergytė has said.
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The accelerating rate of Lithuanian wage growth has not been met with an increase on labour productivity and the Bank of Lithuania says this could be a problem for the country’s economy. Labour productivity has […]
Over the first quarter of this year, labour costs grew by 6.1% compared to the same period last year. Statistics Lithuania reported that labour costs for business companies grew by 7% during the same period. […]
The average wage in Lithuanian was 6.9% higher in the first quarter of 2016 than the same period last year. This is the fastest rate of growth in pay packets since the Lithuania‘s economic recovery […]
While the average monthly salary in Lithuania is still the lowest of comparable countries like Hungary, Slovakia, Poland and the Czech Republic, wages in the IT, banking, retail sales and human resources fields are now […]
The average salary in Lithuania this year will grow by 7% and next year by 6%, according to SEB Bank economist Gitanas Nausėda. The economist said that the wage growth is now especially visible in […]
The absence of an increase in foreign direct investment into Lithuania is one of the key reasons why the average wage in Lithuania is the lowest in the region. “The ratio of attracted investment is […]
The number of Lithuanian companies operating profitably increased over the last six months with a majority raising wages, said the head of the macro-prudential analysis department at the Bank of Lithuania Andrius Škarnulis on Žinių […]
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 prime minister, Algirdas Butkevičius, believes that indexing pensions would make them grow by up to 6 or 7 percent. […]
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, while an annual growth of average wages stood at 4.3 percent. […]
Prime Minister Algirdas Butkevičius has presented to Parliament the Cabinet’s primary tasks. He promised that retirement pensions, benefits and public sector salaries will be increased starting next year. […]
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