Wages and salaries sum increased in June 2024

Wages and salaries sum increased by 1.9 per cent year-on-year in the private sector in June

The working day adjusted wages and salaries sum was 1.9 per cent higher in the private sector in June than twelve months earlier. The wages and salaries sum in the public sector was 0.4 per cent higher than a year earlier in the corresponding period. In the private sector, the seasonally adjusted wages and salaries sum increased by 0.8 per cent and in the public sector by 1.4 per cent in June from the month before.

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Wages and salaries sum grew in all main industries in the private sector

The working day adjusted wages and salaries sum increased in June 2024 in all main industries compared to June 2023. The working day adjusted wages and salaries sum increased significantly in the industries of finance and insurance (7.8 %), private health and social work (5.9 %) and manufacturing (4.7 %). The growth was moderate in the industries of private education (2.2 %), construction (0.8 %), other services (0.7 %) and trade (0.2 %).

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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.