Home > Statistics > Wage and salary indices > 2016 > July > Wages and salaries sum grew by 1.2 per cent year-on-year in May to July

Published: 12 September 2016

Wages and salaries sum grew by 1.2 per cent year-on-year in May to July

According to Statistics Finland, the wages and salaries sum of the whole economy was 1.2 per cent greater in the past May to July period than in the corresponding period twelve months earlier. In July alone, the wages and salaries sum of the whole economy grew by 1.4 per cent from one year ago. One year previously in May to July the wages and salaries sum of the whole economy increased by 0.6 per cent.

Year-on-year change in wages and salaries sum in the 05/2016–07/2016 and 05/2015–07/2015 time periods, % (TOL 2008)

In May to July, the wages and salaries sum grew fastest in construction, where the growth amounted to 5.8 per cent from one year ago. The wages and salaries sums of private health and social work (5.2 %), financial intermediation (2.6 %), other services (2.6 %) and trade (1.4 %) also grew. The wages and salaries sum of manufacturing (-1.4 %) and private education (-1.1 %) declined from the respective time period twelve months earlier.

The wages and salaries sum grew by 2.1 per cent in the private sector in May to July year-on-year

The wages and salaries sum in the private sector was 2.1 per cent greater in May to July than in the respective time period twelve months earlier. In the public sector, the wages and salaries sum decreased by 0.4 per cent in the latest three-month period from twelve months back. In July alone, the wages and salaries sum in the private sector increased by 2.5 per cent from one year earlier. In July, the wages and salaries sum in the public sector decreased by 0.4 per cent from one year earlier. In the May to July period one year ago, the wages and salaries sum increased by 1.3 per cent in the private sector while decreased 0.3 per cent in the public sector.

Annual change in the wages and salaries sum of the whole economy, and the private and public sector in 05/2016–07/2016 and 05/2015–07/2015, % (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.

The wage and salary indices adopted new treatment for closures of small enterprises starting from the data for May 2016. This affected the revision of data at the turn of the year and in early 2016.

Source: Wage and salary indices, Statistics Finland

Inquiries: 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) (12.9.2016)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (12.9.2016)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (12.9.2016)

Revisions in these statistics

• Revisions in these statistics (12.9.2016)

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Updated 12.9.2016