The wages and salaries sum of the whole economy of Finland increased 2.0% during the period from March to May, when compared to the previous year. In May alone, wages and salaries were up 3.3% compared to last year, according to figures from Statistics Finland.

The wages and salaries sum grew fastest during the three month period ending in May in construction, where growth amounted 7.6% from the corresponding period last year. The wages and salaries sums of other services (4.3 %), private health and social work (2.8 %), trade (1.3 %) and manufacturing (0.6 %) also grew over the same period.

Meanwhile, wages and salaries in the private sector grew by 3.6% during the period from March to May than in the same time last year. In the public sector, the wages and salaries sum fell by 0.5 for the same period.

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.