In the second quarter of 2024, the average monthly gross wage in Latvia was EUR 1,671, according to data from the Central Statistical Bureau (CSB). Over the year, it has grown by EUR 146, or 9.6%, which is lower than the annual growth rate of 11% recorded in the first quarter. The hourly wage before taxes increased to EUR 11.41, or 8.9%. The average net wage (calculated taking into account labor taxes) was EUR 1,213, or 72.6% of the gross wage, and increased by 8.9% over the year, outpacing consumer price inflation. The real growth of net wages, taking into account inflation, was 8%. Over the year, the average wage in the public sector grew by 4.1 percentage points faster than in the private sector – by 12.4% and 8.3%, respectively. In the second quarter of 2024, the average gross salary in the public sector was €1,743, while in the private sector it was €1,644 (i.e. €99 less). Salaries in municipal and state institutions and the capital companies they manage increased on average to €1,684, or by 12.9%. Compared with the first quarter of 2024, the average salary in the public sector increased by 5.2%, while in the private sector it increased by 1.8%. Salary levels are influenced not only by the changes in salaries themselves, but also by the demand for labour, trends in the labour market and structural changes.
