Wage and salary indices

Producer: Statistics Finland
Homepage: http://www.stat.fi/til/ktps/index_en.html
Main topic: Wages, Salaries and Labour Costs
Related topics: National AccountsEnterprises
Official Statistics of Finland (OSF): Yes
European Statistical System (ESS): Yes

Description

Wage and salary indices describe the monthly development of the wages and salaries sum in different industries. Sums of wages and salaries refer to the gross totals of wages and salaries enterprises have paid. Wage and salary indices exclude incentive stock options but include bonuses and other one-off reward items. The calculation is based on estimation of change. Sums by industry are calculated from information on the enterprises with comparable data on wages and salaries from both the examined month and the corresponding month of the previous year. These sums are used to calculate annual changes by industry. Calculation of the annual changes also takes into consideration enterprise openings and closures, as well as restructuring and change of activity. The annual changes thus obtained are used to raise the wage and salary index of the corresponding month of the previous year. The latest index figures may become slightly revised as the volume of data grows and enterprises report changes to their data. Due to supplementations the data will become updated in releases for over twelve months.

Data content

Wage and salary indices are published for the following industries and/or sectors: manufacturing

  • Construction
  • Trade
  • Other services
  • Financial intermediation (incl. insurance and pensions funding)
  • Education (excl. public sector)
  • Health and social work (excl. public sector)
  • Public sector
  • Private sector
  • Whole economy

Wage and salary indices are also published for several sub-industries in manufacturing, construction, trade and other services: 35 sub-industries in manufacturing, 3 in construction, 27 in trade and 33 in other services.

Classifications used

Standard Industrial Classification 2008 and Classification of Institutional Sectors 2012.

Data collection methods and data sources

The wage and salary indices are based on the Tax Administration's self-assessed tax data and Statistics Finland's sales inquiry. Statistics Finland's inquiry collects wage and salary data from enterprises with activities in many industries by kind-of-activity unit. The Tax Administration's data cover all enterprises liable to pay value added tax and employers paying wages and salaries. The material comprises data collected in connection with the value added tax and employer contribution payment and reporting procedure. Basic information on enterprises, such as their industry, that is available from Statistics Finland's Business Register is also utilised in calculating the indices.

Data collections

Updating frequency

Monthly.

Time of completion or release

Approximately 40 days from the end of the statistical reference time period.

Time series

Starting from 1995, some of the series starting from 2010. The base year for the time series is year 2015 (2015=100).

Keywords

branches, business cycles, business enterprises, businesses, companies, corporations, economic fluctuation, enterprises, firms, indices, industries, private sector, public sector, wages and salaries

Contact information

http://tilastokeskus.fi/til/ktps/yht_en.html


Last updated 13.03.2018