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Private sector cost of an hour worked increased by 0.7 per cent in July to September

release 09/12/2022 | Labour cost index 2022, 3rd quarter

According to Statistics Finland, labour costs in the private sector rose by 0.7 per cent in July to September 2022 when compared to the respective period of the year before. In the central government sector, costs grew by 2.4 per cent and in the local government sector by 4.8 per cent. The third quarter of 2022 had 66 workingdays, which is the same as in the corresponding period of 2021.

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Key selections

The costs of an hour worked grew by 0.7 per cent in the private sector, by 4.8 per cent in the local government sector and by 2.4 per cent in the central government sector in July to September 2022 when compared to the respective period of the year before.
Of private sector industries, the biggest rise in costs, 6.4 per cent, was seen in financial and insurance activities.
Costs fell in information and communication by 1.2 per cent in the third quarter of 2022.

Statistics used in the release

Labour cost index

Tables

See key statistical data in the tables.

09/12/2022

Labour costs, index points 2020Q3-2022Q3

09/12/2022

Labour costs, annual change percentages 2020Q3-2022Q3

Data revisions

See key statistical data in the tables.

09/12/2022

Revisions to annual changes in the original labour cost index by sector

	1/2021	2/2021	3/2021	4/2021	1/2022	2/2022
Private sector	1st release, %	3,2	2,4	4,2	3,9	2,6	2,5
Latest release, %	3,2	2,8	4,1	3,9	2,9	2,0
Revision, %-points	0,0	0,4	-0,1	0,0	0,3	-0,5
Central government	1st release, %	2,1	2,5	5,4	2,4	1,9	3,3
Latest release, %	2,1	2,6	5,3	2,4	1,9	3,3
Revision, %-points	0,0	0,1	-0,1	0,0	0,0	0,0
Local government	1st release, %	3,7	2,4	3,0	4,3	4,7	3,0
Latest release, %	3,5	2,5	3,1	4,3	4,6	3,2
Revision, %-points	-0,2	0,1	0,1	0,0	-0,1	0,2

09/12/2022

Revisions to annual changes in the seasonally adjusted labour cost index by sector

	1/2021	2/2021	3/2021	4/2021	1/2022	2/2022
Private sector	Revision, %-points	0,2	0,7	0,3	-0,2	0,1	-0,4
Latest release	2,1	2,2	3,2	3,7	3,1	2,0
Latest release, %,	2,3	2,9	3,5	3,5	3,2	1,6
Central government	Revision, %-points	0,3	0,3	-0,4	0,0	0,3	0,0
Latest release	2,0	2,0	5,1	2,9	2,0	2,8
Latest release, %,	2,3	2,3	4,7	2,9	2,3	2,8
Local government	Revision, %-points	0,0	0,0	0,2	0,2	0,0	0,2
Latest release	3,4	2,3	2,8	4,1	4,4	3,2
Latest release, %,	3,4	2,3	3,0	4,3	4,4	3,4