Home > Statistics > Labour cost index > 2010 > 3rd quarter > Cost of labour for an hour worked decreased by -0.5 per cent in July-September

Published: 8 December 2010

Cost of labour for an hour worked decreased by -0.5 per cent in July-September

Private sector labour costs decreased by -0.5 per cent in July-September 2010 when compared with the respective period of the year before. Labour costs excluding one-off items, such as performance bonuses, rised 0,5 percent compared with the respective time period of the year before. In the third quarter of 2010 the index of wage and salary earnings rose 2.0 per cent in the private sector. Both hours not worked but paid decline and periodic bonuses decline slowed down labour costs.

As the time series according to the new method is available only since the beginning of 2007, it has not been possible to seasonally adjust the index data.The timing of so-called moving mid-week holidays, such as Easter and Epiphany, affects the comparability of data concerning the first, second and fourth quarters. Mid-week holidays decrease causes labour costs fall in Labour Cost Index. One mid-week holiday's calculated influence is about 1.5 percent. Statistics Finland publishes seasonally and working day adjusted series when there are enough observations to calculate reliable results. There was no mid-week holidays in the third quarter.

Calculated by industry, the cost of an hour worked in industry decreased by –4.1 per cent in July-September 2010 when compared with the respective time period of the year before. The cost of an hour worked reduced in metall industry, at –8.8 per cent and in chemical industry rose 4.7 per cent. Labour cost rose in construction rose by 0.8 per cent in July-September 2010 when compared with the respective time period of the year before. In service industries the rise amounted to 1.7 per cent.

Annual changes of Labour cost in all industries, industry, construction and services according Standard Industrial Classification 2008

Code	Industry	Labour Costs, Year-on-year change
		Labour costs, all	Labour costs, excluding one-off items
B-S	Total	-0,5	0,5
B-E	Industry	-3,9	-2,0
F	Construction	0,8	1,4
G-N	Services	1,7	1,9

Source: Wages, Salaries and Labour Costs, Statistics Finland

Inquiries: Pekka Haapala (09) 1734 3460, tvkindeksi@stat.fi

Director in charge: Kari Molnar

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Appendix tables

• Appendix table 1. Labour costs, Labour Cost Index 2008=100 (8.12.2010)
• Appendix table 2. Labour costs, Percentage changes, Labour Cost Index 2008=100 (8.12.2010)
• Appendix table 3. Labour costs, excluding one-off items, Labour Cost Index 2008=100 (8.12.2010)
• Appendix table 4. Labour costs, excluding one-off items, percentage changesm Labour Cost Index 2008=100 (8.12.2010)
• Appendix table 5. Standard Industrial Classification 2008 (8.12.2010)

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Updated 8.12.2010