Index of regular earnings: documentation of statistics

Annual change is the relative change of the index in comparison with the corresponding time period one year ago (e.g. annual change of total index of consumer prices, i.e. inflation).

In the chain index the comparison takes place always between successive calculation periods. In the chain index the change in two calculation periods is used to take forward the index point figure of the desired base period. In the chain index the weights are changed in principle in each calculation period.

At times the chain index is also mentioned in such cases where the comparison period is retained fixed in comparisons within the year, but the comparison period and the weight structure of the index is changed whenever the year changes.

The earnings of an hourly wage earner are mainly based on the hours actually worked. In addition, an hourly wage earner may have earnings for working time not worked. Compensation for hours worked and hours not worked can be paid several times a month. An hourly wage earner is usually a worker. The pay system is determined by the collective labour agreement.

An index is a ratio describing the relative change in a variable (e.g. price, volume or value) compared to a certain base period (e.g. one year). The index point figure for each point in time tells what percentage the given examined variable is of its respective value or volume at the base point in time. The mean of the index point figures for the base period is 100.

Monthly wage earners are remunerated for work performed on a monthly basis. Earnings are usually based on one month's working time and tend to stay the same from month to month. Monthly wage earners are normally salaried employees. The pay system is determined in the collective agreement.

Point figure is a change quantity used in price indices, which expresses the price, average price or index of the comparison period relative to the price, average price or index of the base period. The point figure of the base period is usually denoted by the number hundred. For example, if the point figure for a commodity at a certain point in time is 105.3, it means that the price of that commodity has risen by 5.3 per cent from the base period.

Describes what meaning each sub-index (commodity, employee group, etc.) belonging to the index has for total index.