Home > Statistics > Wage and salary indices > 2017 > June > Wages and salaries sum grew by 2.1 per cent year-on-year in April to June

Published: 11 August 2017

Wages and salaries sum grew by 2.1 per cent year-on-year in April to June

According to Statistics Finland, the wages and salaries sum of the whole economy 2.1 per cent greater in the past April to June. In June alone, the wages and salaries sum of the whole economy increased by 2.7 per cent from one year ago. One year previously in April to June the wages and salaries sum increased by 1.2 per cent.

Year-on-year change in wages and salaries sum in the 04–06/2017 and 04/2016–06/2016 time periods, % (TOL 2008)

The wages and salaries sum grew fastest in construction, where growth amounted 8.6 per cent from the corresponding period last year. The wages and salaries sums of other services (4.4 %), private health and social work (3.3 %), manufacturing (2.6 %), trade (2.4 %) and financial intermediation (0.8 %) also grew. The wages and salaries sum of private education declined by 1.2 per cent from the respective time period twelve months earlier.

Competitiveness Pact was visible in the development of public sector wages and salaries sum

The wages and salaries sum in the private sector was 4.5 per cent greater in April to June than in the respective time period twelve months earlier. In June alone, the wages and salaries sum in the private sector grew by 7.1 per cent from one year earlier. In the public sector, the wages and salaries sum fell by 2,3 per cent in April to June compared to the respective time period twelve months back. The 30 per cent reduction in public sector employees’ holiday bonuses implemented as a result of the Competitiveness Pact was visible in the development of public sector wages and salaries sums, and the public sector wages and salaries sum fell in June by 5.2 per cent from the previous year. In the April to June period one year ago, the wages and salaries sum increased by 2.0 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 04–06/2017 and 04/2016–06/2016, % (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: Godfrey Lowndes 029 551 3423, palvelut.suhdanne@stat.fi

Director in charge: Sami Saarikivi

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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) (11.8.2017)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (11.8.2017)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (11.8.2017)

Revisions in these statistics

• Revisions in these statistics (11.8.2017)

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Updated 11.8.2017