Home > Statistics > Labour cost index > 2012 > 2nd quarter > Seasonally adjusted cost of an hour worked increased by 4.8 per cent in April to June

Published: 24 September 2012

Seasonally adjusted cost of an hour worked increased by 4.8 per cent in April to June

Seasonally adjusted labour costs in the private sector rose by 4.8 per cent in April to June 2012 when compared with the respective period of the year before. At the same time, original labour costs unadjusted for seasonal variation rose by 5.3 per cent from the respective period of the previous year. Over the same time period, the index of wage and salary earnings for the private sector went up by 3.7 per cent.

Year-on-year change in labour costs from the respective quarter of previous year %, original and seasonally adjusted series

The series of Labour costs are seasonally adjusted with the Tramo/Seats method. The latest observations of the series adjusted for seasonal and random variation (seasonally adjusted and trend series) become revised with new observations in seasonal adjustment methods. Revisions especially at turning points of economic trends may be significant, which should be taken into consideration when using seasonally adjusted and trend data. Information on seasonal adjustment method: http://www.tilastokeskus.fi/til/tramo_seats_en.html

Statistics Finland publishes seasonally adjusted series now for the first time because sufficient observations are available for calculating reliable results. The timing and number of so-called moving mid-week holidays, such as Easter and Epiphany, and working days affect the comparability of data concerning the whole year, and the first, second and fourth quarters. The second quarter of 2012 had one mid-week holiday more than the second quarter of the previous year.

Calculated by industry, seasonally adjusted cost of an hour worked rose by 5.5 per cent in all manufacturing in April to June 2012 when compared with the respective period of the year before. In the metal industry, the cost of an hour worked went up by 10.6 per cent and in construction by 5.6 per cent in the April to June period of 2012 from the same period of the previous year. The respective rise in business service activities was 4.3 per cent.

Year-on-year change in labour costs in total industries, manufacturing, construction and services by TOL 2008

Code	Industry	Labour Costs, Year-on-year change
		Seasonally adjusted labour costs, total	Labour costs, total
B-S	Total	4,8	5,3
B-E	Manufacturing	5,5	6,0
F	Construction	5,6	6,5
G-N	Business service sector	4,3	4,3

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. Seasonally adjusted labour costs, Labour Cost Index 2008=100 (24.9.2012)
• Appendix table 2. Seasonally adjusted labour costs, percentage changes, Labour Cost Index 2008=100 (24.9.2012)
• Appendix table 3. Standard Industrial Classification 2008 (24.9.2012)

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Updated 24.9.2012