A more recent publication of this set of statistics is available.

Latest publication: Labour cost index 2019, 3rd quarter

Published: 10 December 2014

Cost of an hour worked went up by 0.8 per cent in July to September

Private sector labour costs rose by 0.8 per cent in July to September 2014 when compared with the respective period of the year before. Seasonally adjusted labour costs rose by 1.6 per cent in July to September 2014. Labour costs without one-off pay items, such as performance-based bonuses went up by 0.9 per cent compared to the corresponding period one year ago. Over the same time period, the index of wage and salary earnings for the private sector went up by 1.4 per cent.

Year-on-year change in labour costs in the private sector from the respective quarter of previous year

Year-on-year change in labour costs in the private sector from the respective quarter of previous year

In the central government sector, labour costs went down by 0.1 per cent in July to September 2014 when compared with the respective period of the year before. Labour costs without one-off pay items remained unchanged year-on-year. Seasonally adjusted labour costs went up by 1.9 per cent. In the local government sector, labour costs rose by 2.6 per cent in July to September 2014 when compared with the respective period of the year before. Costs without one-off pay items grew by 2.1 per cent.

Without social security contributions, the cost of an hour worked grew by 0.6 per cent in the private sector, by 2.4 per cent in the local government sector, and went down by 0.8 per cent in the central government sector.

Calculated by industry, cost of an hour worked rose by 0.8 per cent in all manufacturing in July to September 2014 when compared with the respective period of the year before. In the chemical industry, cost of an hour worked grew by 0.5 per cent and in the forest industry it decreased by 1.5 per cent. Growth in the construction industry amounted to 3.1 per cent. In total, the cost of an hour worked in business service activities remained unchanged. In services, the cost of an hour worked increased most in financing and insurance activities, 4.4 per cent, and the biggest decline was seen in information and communication activities, 0.4 per cent.

The seasonally adjusted cost of an hour worked in all manufacturing went up by 1.9 per cent in July to September 2014 compared with the corresponding period last year. In the chemical industry, the cost of an hour worked went up by 1.2 per cent and in forest industry by 0.3 per cent in the July to September period of 2014 from the same period of the previous year. In construction, the seasonally adjusted cost of an hour worked grew by 3.1 per cent. The respective rise in business service activities was 0.9 per cent. In financing and insurance activities, the cost of an hour worked rose by 2.6 per cent, while in information and communication activities the costs grew by 0.3 per cent.

Annual changes in labour costs according to Standard Industrial Classification 2008, 3rd quarter 2014

Code Industry Labour Costs,
Year-on-year change
Labour costs Labour costs,
excluding one-off items
Labour Costs, seasonally adjusted
B-S Total 0,8 0,9 1,6
B-E Industry 0,8 0,7 1,9
F Construction 3,1 1,6 3,1
G-N Business service sector 0,0 0,6 0,9
J-R State sector -0,1 0,0 1,9
D-S Local government sector 2,6 2,1 ..

Source: Wages, Salaries and Labour Costs, Statistics Finland

Inquiries: Pekka Haapala 029 551 3460, Hanna Jokimäki 029 551 3667, tvkindeksi@stat.fi

Director in charge: Hannele Orjala

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Tables

Tables in databases

Appendix tables

Revisions in these statistics

Updated 10.12.2014

Referencing instructions:

Official Statistics of Finland (OSF): Labour cost index [e-publication].
ISSN=1798-3746. 3rd quarter 2014. Helsinki: Statistics Finland [referred: 11.12.2019].
Access method: http://www.stat.fi/til/tvki/2014/03/tvki_2014_03_2014-12-10_tie_001_en.html