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Finland - Wages and salaries up +5.8% y-o-y

12 August 2011

The total sum of wages and salaries of the whole economy was +5.8% higher during the period from April to June 2011 than during the same period last year. In June alone, the sum of wages and salaries of the whole economy grew by +5.6% year-on-year. In the April to June period of 2010, the wages and salaries sum grew by +1.6%, according to the latest data, published today, by Statistics Finland (Tilastokeskus).

The sum of wages and salaries went up in the April to June period in all the industries for which statistics are compiled. Growth was fastest in the activities of construction (+8.6%), other services (+7.1%), private health and social work (+7.1%) and trade (+6.6%). The increase of the wages and salaries sum was most moderate in financial services where it grew by +3.3% year-on-year.
 
The wages and salaries sum refers to 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.

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