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Private sector cost of an hour worked increased by 1.6 per cent in July to September 2024

Release related to topics:EnterprisesWork, wages and livelihood
release | Labour cost index 2024, 3rd quarter

According to Statistics Finland, labour costs in the private sector increased by 1.6 per cent in July to September 2024 when compared to the respective period of the year before. In the central government sector, costs grew by 4.1 per cent and in local government by 1.8 per cent.

Key selections

  • The third quarter of 2024 had 66 working days, which is one more than in the corresponding period of 2023.
  • In the central government, the cost of an hour worked grew more than in local government and in the private sector in July to September 2024 from one year ago.
  • Among private sector industries, the biggest rise in labour costs, 5.5 per cent, was recorded in information and communication (J).
  • The labour costs decreased 6.6 per cent in financial and insurance activities (K).
  • 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 2022Q3-2024Q3

Labour costs, annual change percentages 2022Q3-2024Q3

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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      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, 3rd quarter. ISSN=1798-3746. Helsinki: Statistics Finland [Referenced: 18.12.2024].
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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