Home > Statistics > Wage and salary indices > 2010 > May > Wages and salaries sum grew by 1.8 per cent in March to May

Published: 16 July 2010

Wages and salaries sum grew by 1.8 per cent in March to May

The wages and salaries sum of the whole economy was 1.8 per cent greater in the past March to May period than in the corresponding period twelve months back. In May alone the wages and salaries sum of the whole economy grew by 1.9 per cent. In the March to May period one year ago the wages and salaries sum fell by 1.3 per cent year-on-year.

Year-on-year change in wages and salaries sum in the 3-5/2010 and 3-5/2009 time periods, % (TOL 2008)

The wages and salaries sum grew in all main industries in the March to May period with the exception of manufacturing, where the wages and salaries sum contracted by 1.1 per cent from twelve months back. The growth was moderate in financial intermediation (1.8 %), construction (1.4 %), trade (0.9 %) and other services (0.9 %). The growth in the public sector wages and salaries sum strengthened from one year ago, while in the private sector providing training services and in private health and social work the growth slowed down slightly.

Tax account reform causes revisions to the data of wage and salary indices

Starting from data on January 2010, the wage and salary indices will be compiled from data on the periodic tax returns allowed in the Tax Administration’s tax account reform. According to our analysis the impact on these statistics from the implemented tax account reform will remain quite minor. However, slightly less data than before will be available from January 2010, which may mean that the time series of the wage and salary indices become slightly revised in future releases. Further information about the impacts of the changes in the data on the wage and salary indices can be found under Revisions in these statistics . Information about the tax account reform is also available on the Tax Administration’s website at: www.vero.fi .

Source: Wage and salary indices, Statistics Finland

Inquiries: Emilia Saarinen (09) 1734 2674, palvelut.suhdanne@stat.fi

Director in charge: Hannele Orjala

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Appendix tables

• Three-month moving change, cumulative change and change in the latest month, year-on-year, % (TOL 2008) (16.7.2010)

Figures

• Trends in the sum of wages and salaries by industry (TOL 2008) (16.7.2010)

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Updated 16.7.2010