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Private sector cost of an hour worked increased by 2.6 per cent in January to March 2022

release | Labour cost index 2022, 1st quarter

According to Statistics Finland, private sector labour costs increased by 2.6 per cent in January to March 2022 when compared with the respective period of the year before. Seasonally adjusted labour costs went up by 3.1 per cent. There was one more working day in the first quarter of 2022 than in the corresponding period of 2021. In the labour cost index, an increase in the number of working days usually has a decreasing effect on costs.

Key points

  • The costs of an hour worked grew by 2.6 per cent in the private sector, by 4.7 per cent
    in the local government sector and by 1.9 per cent in the central government
    sector in the January to March period of 2022.
  • Of private sector industries, costs rose most, by 5.8 per cent, in the forest industry.
  • Costs fell in information and communication by 2.0 per cent in the first quarter of 2022.
  • In all sectors, the rise in costs is mainly caused by an increase in wages and
    salaries subject to preliminary withholding tax.
  • In the local government sector, the growth in costs is also explained by the decrease in the number of hours worked.

Tables

See key statistical data in the tables.
09.06.2022

Labour costs, index points 2020Q1-2022Q1

09.06.2022

Labour costs, annual change percentages 2020Q1-2022Q1

Data revisions

See key statistical data in the tables.
09.06.2022

Revisions to the original labour cost index, year-on-year-change

09.06.2022

Revisions to the seasonally adjusted labour cost index, year-on-year-change

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