The Bank of Estonia stated that the actual movement of workers to jobs with higher productivity and higher wages will make the structure of the economy more based on value added and will increase the incomes of residents. The increase in labour costs and reduced profitability are affecting first and foremost the branches of the economy with a lower added value, and should prompt businesses to invest in undertakings offering higher added value. The bankers said that collective agreements play only a small role beyond setting minimum wages and employers can decide directly about their wage costs.
English: https://www.eestipank.ee/en/press/risk-growth-slowing …
For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Willy De Backer wdebacker@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.eu. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.
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