Labor Compensation: Earnings: All Activities: Hourly for Estonia
LCEATT01EEQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
170.09
Year-over-Year Change
28.60%
Date Range
1/1/2002 - 7/1/2023
Summary
This economic trend measures the average hourly labor compensation for all activities in Estonia. It is a key indicator of labor market conditions and productivity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Labor Compensation: Earnings: All Activities: Hourly for Estonia series tracks the average hourly earnings of workers across all sectors of the Estonian economy. It is a widely used metric for evaluating labor market dynamics and assessing the overall health of the national economy.
Methodology
The data is collected through employer surveys and compiled by the Estonian statistical agency.
Historical Context
This trend is closely monitored by policymakers and economists to inform decisions around wage policies, economic planning, and productivity targets.
Key Facts
- Estonia's average hourly labor compensation was €10.24 in 2021.
- Compensation has risen by 25% over the past 5 years.
- The services sector accounts for the largest share of total labor compensation.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average hourly labor compensation, including wages and benefits, across all economic activities in Estonia.
Q: Why is this trend relevant for users or analysts?
A: It is a key indicator of labor market conditions, worker productivity, and overall economic performance in Estonia.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys and compiled by the Estonian statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to inform decisions around wage policies, economic planning, and productivity targets.
Q: Are there update delays or limitations?
A: The data is published quarterly with a slight delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: All Activities: Hourly for Estonia (LCEATT01EEQ661S), retrieved from FRED.