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Private sector cost of an hour worked increased by 1.9 per cent in April to June 2024

Release related to topics:EnterprisesWork, wages and livelihood
release | Labour cost index 2024, 2nd quarter

According to Statistics Finland, labour costs in the private sector rose by 1.9 per cent in April to June 2024 when compared to the respective period of the year before. In the central government sector, costs decreased by 0.7 per cent and in local government rose by 1.2 per cent.

Key selections

  • The second quarter of 2024 had 61 working days, which is one more than in the corresponding period of 2023.
  • In the private sector, the cost of an hour worked grew more than in local government in the April to June period of 2024 from one year ago. In the central government sector, the costs fell.
  • Among private sector industries, the biggest rise in labour costs, 3.7 per cent, was recorded in construction (F). Costs in the private sector fell in chemical industry (C 19-22) and metal industry (C 24-30) in the second quarter of 2024 from one year ago.
  • The decline in labour costs in the central government sector is due to the non-recurring items paid in April last year. Non-recurring items were not paid to the same extent in the second quarter of 2024 as in 2023.
  • In the labour cost index, growth in costs is usually curbed by growth in the number of working days.

Tables

See key statistical data in the tables.

Labour costs, index points 2022Q2-2024Q2

Labour costs, annual change percentages 2022Q2-2024Q2

Data revisions

See key statistical data in the tables.

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

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

Database tables

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Updated database tables
141m
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  • Industry (TOL 2008)
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141l
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  • Industry (TOL 2008)
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year
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141n
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  • Industry (TOL 2008)
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141p
Classifications used:
  • Industry (TOL 2008)
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year
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141q
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    quarter
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    141r
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      year
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      Documentation

      Description of the production, used methods and quality of the statistics.

      Go to documentation of the statistics

      Referencing instructions

      Official Statistics of Finland (OSF): Labour cost index [online publication].
      Reference period: 2024, 2nd quarter. ISSN=1798-3746. Helsinki: Statistics Finland [Referenced: 17.11.2024].
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      Statistical experts

      Inquiries primarily

      Service email
      tvkindeksi@stat.fi
      Antti Saarinen
      Senior Statistician
      029 551 3551

      Other experts

      Tuomas Lahti
      Senior Statistician
      029 551 3299

      Head of Department in charge

      Hannele Orjala
      Head of Department in charge
      029 551 3582