Latvia Gross Minimum Monthly Wage - Forecast

Minimum Wages in Latvia is expected to be 430.00 EUR/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Minimum Wages in Latvia to stand at 456.72 in 12 months time. In the long-term, the Latvia Gross Minimum Monthly Wage is projected to trend around 540.00 EUR/Month in 2020, according to our econometric models.


Latvia Gross Minimum Monthly Wage
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Latvia Labour Last Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 8.2 8.2 8.1 8 8 8.2
Employed Persons 898 907 906 905 907 910
Unemployed Persons 59119 57810 57481 57385 57355 57342
Long Term Unemployment Rate 3.2 2.28 2.09 2.05 1.95 1.52
Youth Unemployment Rate 10.7 10.7 10.18 10.4 10.27 10.31
Labour Costs 133 133 133 133 133 133
Job Vacancies 20886 24115 24853 26077 27193 31443
Wages 733 720 790 770 719 880
Minimum Wages 430 430 430 480 457 540
Population 1.93 1.93 1.93 1.91 1.91 1.89
Retirement Age Women 63.25 63.25 63.25 63.5 63 63.75
Retirement Age Men 63.25 63.25 63.25 63.5 63 63.75
Labor Force Participation Rate 69.2 69.48 69.48 69.48 69.51 69.58
Part Time Employment 62 65.16 64.13 63.93 64.22 64.05
Productivity 112 130 129 113 126 127
Employment Change 0.9 0.28 0.17 0.11 0.06 -0.01
Employment Rate 66.7 68.81 69.27 70.41 71.13 73.07
Full Time Employment 800 812 812 815 818 822