Recent studies stress that the average costs of labour hours in Latvia in the second quarter of 2006, in comparison to the second quarter of 2005, have increased by 22.7%. This is the sharpest rise in the European Union. (Ref. 06926)
Other important rises in costs were as follows: in Lithuania – by 21.1 %, Estonia – by 16.4, % and the Czech Republic – by 10.1 %. Next year Latvia could be in a leading position when it comes to real wage increase (nominal wage minus inflation). This rate could reach 6.8%, according to a research paper by the Consultancy Firm “Mercer Human Resources Consulting”. Salary increases in Latvia are determined by several factors : in order to attract and keep workers, employers have to increase sala
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