Home > Statistics > Wage and salary indices > 2020 > October > Wages and salaries sum fell by 0.3 per cent in August to October year-on-year

Published: 14 December 2020

Wages and salaries sum fell by 0.3 per cent in August to October year-on-year

According to Statistics Finland’s data, the wages and salaries sum of the whole economy was 0.3 per cent lower in the August to October period than in the corresponding period twelve months earlier. In October, the wages and salaries sum of the whole economy grew by 1.5 per cent from the year before. One year previously in August to October, the wages and salaries sum of the whole economy increased by 3.5 per cent.

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

In August to October, the wages and salaries sum grew fastest in private health and social work, where the growth amounted to 4.6 per cent from one year ago. The wages and salaries sums also grew in private education (2.0%), financial intermediation (1.9%) and trade (0.8%). The wages and salaries sums decreased in other services (-2.3%), manufacturing (-1.7%) and construction (-0.8%) compared with the corresponding period of the previous year.

Wages and salaries sum fell by 0.7 per cent in the private sector in August to October from one year back

The wages and salaries sum in the private sector was 0.7 per cent lower in August to October compared to one year ago. The wages and salaries sum of the public sector was 1.7 per cent higher than in the corresponding period one year previously. In October, the wages and salaries sum in the private sector increased by 1.9 per cent and in the public sector by 1.8 per cent from one year earlier. In the August to October period one year ago, the wages and salaries sum grew by 3.9 per cent in the private sector and by 3.1 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

Head of Department in charge: Hannele Orjala

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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) (14.12.2020)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (14.12.2020)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (14.12.2020)

Revisions in these statistics

• Revisions in these statistics (14.12.2020)

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Updated 14.12.2020