Over the course of the year a typical Latvian worker has become more expensive by 6.4 percent. In the second quarter they had to pay him 7.50 euro per hour, which is 45 cents more than a year earlier.
The Latvian workers have been continually increasing in price with such rate since the 4th quarter 2010. Until then, they were fully reaping the harvest of the crisis – for almost two years incomes of employees were undergoing mass consolidation, which by year amounted to 15 percent.
Anyhow, the current All-Latvian rise in the cost of a work-hour (read: employers’ expenditures) passed round three branches of local economics. Curiously enough, but the government decision – makers lost more than others — their costs over the year decreased by 1.8 percent. If in the 2nd quarter of the last year an average executive cost out to the state at 9 euro 13 cents, then in April – June of this year he cost out at 8 euro 96 cents. It is not surprising that the government cannot find for months already an adequate head of the State Revenue Service. Those, who are ready to work for money offered, do not meet strict requirements set for the SRS director general. But those, who are qualified, do not want to work for the remuneration offered.
Apart from the executives, the energy workers and educators lost in income over the year. With regard to the latter, they are waiting how the reform of Karlis Sadurskis, Minister for Education, would turn out. Perhaps, at year - end their work-hour, nevertheless, would mark up.
In turn, the sharpest gain in earnings was recorded in a mysterious sector marked “other services”. Here the cost of a work-hour over the year jumped by 21.4 percent. Though, you can’t get rich on ‘other services’ — this is one of the cheapest sectors, where even after a comparatively gigantic jerk a work-hour gained in price merely up to 6.32 euro.
For comparison: employees of banks, financial and insurance companies are most expensive for employers. They had to pay them per 16.47 euro per hour (calendar-year rise by 4.8 percent).
The construction sector can boast of an impressive growth as well — here the cost of a work-hour has marked up over the year by 12.9 percent. But alongside that the number of worked hours fell dramatically (by 16.8 percent). Hence, in expectation of new tranches of European funding the sector lives on the principle ‘Less is better’: the number of building sites and of builders is shrinking, but those, who managed to hold down the job, earn more.