Bloomberg News

Lithuanian Wages Fell 1.7% in First Quarter on Unemployment

May 25, 2012

Lithuanian wages fell 1.7 percent in the first quarter from the previous three months as employment in constructions and farming slowed.

The average monthly gross wage fell to 2,138 litai ($778.7), the statistics office in the capital Vilnius said in a statement on its website today. Wages rose 3.2 percent from the same period of 2011.

Compensation is shrinking after unemployment jumped to 14.5 percent in the first quarter on fewer seasonal jobs and as the impact of the fourth-quarter bonuses and one-time payments evaporates. The Baltic nation’s economy grew 3.9 percent in the first quarter, according to preliminary figures.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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