The average monthly wage in the Baltic States rose the fastest in Lithuania in 2023, according to research agency Figure Baltic Advisory’s study, LETA reports. The average wage rose by 8.8% in Lithuania, 8.2% in Latvia, and 7.3% in Estonia over a year. The agency projects that the monthly basic salary will rise by 6.3% in Lithuania, 5.4% in Estonia, and 5.3% in Latvia in 2025. Meanwhile, annual total salaries will grow by 6.9% in Lithuania, 5.6% in Estonia, and 5.3% in Latvia, Figure Baltic Advisory forecasts. The agency expects 63% of organisations in both Estonia and Lithuania and 57% in Latvia to hire more staff in 2024, while 12% of organisations in both Estonia and Latvia and 11% in Lithuania will lay off staff in 2024. Staff numbers will not change at 31% of organisations in Latvia, 26% in Lithuania, and 25% in Estonia in 2024, the study estimates.
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