Wages and salaries sum grew in December 2022

Wages and salaries sum grew in all main industries

The working day adjusted wages and salaries sum grew in December 2022 in all main industries compared to December 2021. The working day adjusted wages and salaries sum grew fastest in the industries of private health and social work (6.3%), financial and insurance (4.7%), other services (4.7%) and private education (4.6%). The wages and salaries sum increased more moderately in the industries of construction (1.6%), manufacturing (1.3%) and trade (1.3%).

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Wages and salaries sum grew by 2.9 per cent year-on-year in the private sector in December

The working day adjusted wages and salaries sum was 2.9 per cent higher in the private sector in December than twelve months earlier. The wages and salaries sum in the public sector was 7.5 per cent higher than in the corresponding period one year previously. In the private sector, the seasonally adjusted wages and salaries sum decreased by 2.9 per cent and in the public sector grew by 1.2 per cent in December from the month before.

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The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.