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Published: 12 June 2020

Wages and salaries sum grew by 0.1 per cent in February to April year-on-year

According to Statistics Finland’s data, the wages and salaries sum of the whole economy was 0.1 per cent greater in the February to April period than in the corresponding period twelve months earlier. In April, the wages and salaries sum of the whole economy decreased by 3.2 per cent from the year before. One year previously in February to April, the wages and salaries sum of the whole economy increased by 3.9 per cent. The exceptional situation caused by coronavirus had an effect on the development of industries.

Three months’ year-on-year change in the wages and salaries sum, % (TOL 2008)

In February to April, the wages and salaries sum grew fastest in financial intermediation, where the growth amounted to 4.0 per cent from one year ago. The wages and salaries sums of private health and social work (4.0%), construction (1.1%), private education (0.4%), and trade (0.1%) also grew. The wages and salaries sum of manufacturing (-2.7%) decreased compared to the corresponding period of one year ago.

Wages and salaries sum decreased by 0.1 per cent in the private sector in February to April year-on-year

The wages and salaries sum in the private sector was 0.1 per cent lower in February to April compared to one year ago. The wages and salaries sum of the public sector was 0.9 per cent higher than in the corresponding period one year previously. In April, the wages and salaries sum in the private sector decreased 3.9 per cent and in the public sector declined by 1.1 per cent from one year earlier. In the February to April period one year ago, the wages and salaries sum grew by 4.3 per cent in the private sector and by 4.0 per cent in the public sector from the year before.

Three months’ year-on-year change in the wages and salaries sum of the whole economy, and the private and the public sector, % (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: Heidi Myllylä 029 551 3473, 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) (12.6.2020)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (12.6.2020)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (12.6.2020)

Revisions in these statistics

• Revisions in these statistics (12.6.2020)

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Updated 12.6.2020