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Published: 6 February 2018

Wage and salary earners' earnings rose by 0.2 percent

According to Statistics Finland’s preliminary data, the nominal earnings of wage and salary earners rose by 0.2 per cent on average in October to December 2017 when compared to the respective period in 2016. Real earnings fell by 0.4 per cent on average compared to the fourth quarter of the previous year, because the rise in consumer prices was faster than that in earnings level.

Year-on-year changes in index of wage and salary earnings 2000/1–2017/4, per cent

During the period from October–December 2016 to the respective period in 2017 the nominal earnings of wage and salary earners rose in the private sector by 0.6 percent. As for the central government sector and the local government sector, the nominal earnings of wage and salary earners decreased by 0.8 and 1.0 percent respectively.

Compared to the year before, the average increase in the level of earnings during 2017 was 0.2 per cent, whereas the decrease in real earnings was 0.6 per cent according to preliminary data.

The figure below examines the development of the index of wage and salary earnings in 2015 to 2017. The private sector and the public sector were selected to the examination and it ends in the last published quarter, that is, the fourth quarter of 2017. The cut in the public sector holiday bonuses is visible in the development of index of wage and salary earnings in the central and local government sectors. A corresponding fall does not occur in the development of index of wage and salary earnings in the private sector.

Development of the index of wage and salary earnings in 2015 to 2017

Wage and salary earners’ regular earnings increased by 0.5 per cent in October to December

Regular earnings rose by 0.5 per cent in October to December 2017 when compared to the respective period in 2016. They grew by 0.6 per cent in the private sector, by 0.6 per cent in the central government sector and by 0.4 per cent in local government.

The index for regular earnings describes the earning development better than the index of wage and salary earnings because it does not take into account performance-based bonuses and non-recurring items included in collective agreements. The cuts in holiday bonuses agreed on in the Competitiveness Pact are not taken into consideration in the index for regular earnings.

Index of wage and salary earnings and index of regular earnings are final as far as the year 2016

The indices are final as far as the year 2016 and they are based on final wage statistics. The indices for 2017 are still preliminary. They are based on the effects of agreements and the wage drift. In addition, the data on performance-based bonuses of the Labour Cost Index are used to assess performance-based bonuses in the calculation of the preliminary indices of the index of wage and salary earnings.

Source: Index of wage and salary earnings 2017, 4th quarter. Statistics Finland

Inquiries: Anu Uuttu 029 551 2322, Harri Nummila 029 551 3235, palkat.indeksit@stat.fi

Director in charge: Sami Saarikivi

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Appendix tables

• Appendix table 1. Index of wage and salary earnings 2015=100 by employer sector and base of payment (6.2.2018)
• Appendix table 2. Index of regular earnings 2015=100 by employer sector and base of payment (6.2.2018)
• Appendix table 3. Index of wage and salary earnings 2015=100 by employer sector and gender (6.2.2018)
• Appendix table 4. Index of regular earnings 2015=100 by employer sector and gender (6.2.2018)
• Appendix table 5. Index of wage and salary earnings 2015=100 by industry, (TOL 2008) (6.2.2018)
• Appendix table 6. Index of regular earnings 2015=100 by industry, (TOL 2008) (6.2.2018)
• Appendix table 7. Index of wage and salary earnings 2010=100 by employer sector and gender (6.2.2018)
• Appendix table 8. Index of wage and salary earnings 2010=100 by industry, (TOL 2008) (6.2.2018)
• Appendix table 9. Index of wage and salary earnings 2015=100, percentage changes (6.2.2018)
• Appendix table 10. Index of regular earnings 2015=100, percentage changes (6.2.2018)
• Appendix table 11. Average earnings by employer sector and gender, EUR/month (6.2.2018)

Revisions in these statistics

• Revisions in these statistics (6.2.2018)

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Updated 06.02.2018