Baltic states: unemployment down and income up, forecasts Hansabank

Publication

4 August 2006 à 14h56

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3 minutes

Publication: 4 August 2006 à 14h56

Reading time: 3 minutes

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The leading financial group in the Baltic states Hansabank forecasts a significant decrease of the harmonized unemployment level and a strong growth of real wages in each of the three Baltic states in 2006-2008. (Ref. 06792)
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4 August 2006 à 14h56

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3 minutes

Publication: 4 August 2006 à 14h56

Reading time: 3 minutes

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According to Hansabank experts, the main driver of rapid economic growth in Lithuania (see our article n° 06764), Latvia and Estonia is domestic demand : falling unemployment and rapidly growing wages are backbone for the strong consumer confidence, and encourage people to spend. This growth and the outflow of labour to the EU15 countries (especially the UK, Ireland and Finland) have created labour shortages in all three economies. This has caused wages to increase very fast, undermining compet

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