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Published: 12 October 2015

The wages and salaries sum went up 0.9 per cent year-on-year in June to August

According to Statistics Finland, the wages and salaries sum of the whole economy was 0.9 per cent greater in the June to August period than in the corresponding period twelve months earlier. In August alone, the wages and salaries sum decreased by 0.5 per cent year-on-year. There was one less pay day Friday in August 2015 than one year ago, which affected the development of the wages and salaries sum. In June to August 2014, the wages and salaries sum of the whole economy grew by 0.4 per cent.

Year-on-year change in wages and salaries sum in the 06-08/2015 and 06-08/2014 time periods, % (TOL 2008)

The wages and salaries sum grew in all main industries in June to August in all main industries with the exception of education services provided by the private sector (-0.7 %) and manufacturing (-0.5 %). The wages and salaries sum grew fastest in construction (4.0%). The wages and salaries sum also increased in other services (2.7%), in private health and social work services (2.6%), financial intermediation (1.9%), and trade (0.7%).

Wages and salaries sum grew by 1.9 per cent in the private sector in June to August year-on-year

The wages and salaries sum in the private sector was 1.9 per cent greater in the June to August period than in the respective time period twelve months earlier. Over the same period, the wages and salaries sum of the public sector declined by 0.8 per cent year-on-year. In August alone, the wages and salaries sum in the private sector declined by 0.1 per cent and in the public sector by 1.4 per cent from one year earlier. In the June to August period one year ago the wages and salaries sum grew by 0.7 per cent in the private sector and by 0.4 per cent in the public sector from the year before.

Annual change in the wages and salaries sum of the whole economy, and the private and public sector in 06–087/2015 and 06–08/2014, % (TOL 2008 and S 2012)

The wages and salaries sum refers to the sum total of the gross wages and salaries paid to employees without incentive stock options. The wages and salaries sum is influenced by changes in employment and in the earnings level of wage and salary earners.

Source: Wage and salary indices, Statistics Finland

Inquiries: Suvi Kiema 029 551 2738, Katja Äijö 029 551 2659, palvelut.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Year-on-year change in the sum of wages and salaries by industry and sector, % (TOL 2008 and S 2012) (12.10.2015)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (12.10.2015)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (12.10.2015)

Revisions in these statistics

• Revisions in these statistics (12.10.2015)

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Updated 12.10.2015