Wage and salary earners’ earnings for regular working hours rose by 1.9 percent in January-March

According to Statistics Finland’s preliminary data, the index of wage and salary earnings, which measures the rise in the nominal earnings of full-time wage and salary earners, rose by 1.9 per cent in January to March 2021 when compared with the respective period in 2020. Real earnings rose by 0,9 per cent compared to the first quarter of the previous year because the rise in earnings level was faster than that in consumer prices.

Index of wage and salary earnings and real earnings 2000/1 to 2021/1, annual change percentage

According to Statistics Finland’s preliminary data, the nominal earnings of full-time wage and salary earners rose from January to March 2020 to the corresponding period in 2021 by 2.0 per cent in the private sector, by 1.5 per cent in the central government sector and by 1.6 per cent in the local government sector.

The index of regular earnings describes the permanent change in earnings better

The index of regular earnings of full-time wage and salary earners rose by 1.9 per cent in January to March 2021 when compared with the respective period in 2020. The growth amounted to 2.0 per cent in the private sector, to 1.5 per cent in the central government sector, and to 1.6 per cent in the local government sector.

The figure examines the development of the index of wage and salary earnings (ATI) and the index for regular earnings (SANI) in the local government sector in 2015 to 2021. The examination ends in the latest published quarter, that is, the first quarter of 2021.

Index of wage and salary earnings and the index for regular earnings 2015=100

It was agreed in the Competitiveness Pact that public sector holiday bonuses would be reduced by 30 per cent in the years 2017 to 2019. This is visible in 2017 as negative earnings development in the index of wage and salary earnings of the local government sector. In 2019, the index of wage and salary earnings of the local government sector reached the index of regular earnings thanks to the non-recurring item based on performance. The return of holiday bonuses to the level prior to 2017 raised the index of wage and salary earnings of the local government sector at the beginning of 2020 to the same level as the index of regular earnings.

Corresponding changes due to the cuts in holiday bonuses and the non-recurring item based on performance do not occur in the development of the index of regular earnings, because it does not take into account performance-based bonuses and non-recurring items included in collective agreements.

The indices for 2021 are based on the effects of agreements and the wage drift

The indices are final as far as the year 2019 and they are based on final wage statistics. The indices for 2020 are still preliminary. They are based on final wage statistics and in addition to the effects of agreements and the wage drift. The indices for 2021 are based on the effects of agreements and the wage drift.

Source: Index of wage and salary earnings 2021, 1st quarter. Statistics Finland

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

Head of Department in charge: Hannele Orjala

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Revisions in these statistics

Revisions in these statistics (27.5.2021)

Updated 27.5.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of wage and salary earnings [e-publication].
ISSN=1798-7814. 1st quarter 2021. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/ati/2021/01/ati_2021_01_2021-05-27_tie_001_en.html