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Published: 17 July 2008

Wages and salaries sum grew by 8.9 per cent in March to May

The wages and salaries sum of the whole economy was 8.9 per cent greater in the past March to May period than in the corresponding period twelve months before. The rate of growth increased from the previous March to May period in which the year-on-year growth in the wages and salaries sum was 6.3 per cent.

The wages and salaries sum went up in all main industries. The growth was fastest in financial intermediation where the sum was 15.2 per cent greater in this March to May period than in the corresponding period twelve months earlier. Strong growth was recorded also in construction (15 per cent), private health and social work (12.4 per cent) and other services (11.2 per cent). The wages and salaries sum developed favourably in other industries as well. The increase in the wages and salaries sum was most moderate in private sector education services where it grew by 5.7 per cent from the comparison period of the year before.

Year-on-year change in wages and salaries sum in the 3/2008-5/2008 and 3/2007-5/2007 time periods, %

As of the data released at the beginning of May 2008, monthly trend indicators will have been calculated with a revised method. The revision affects both the calculation method and the calculation system of the indicators.

The main revisions to the calculation methods of the trend indicators concern the treatment of missing observations from the accumulation period, enterprise openings and closures, and foreign-owned enterprises. Further information on the methodological revision is available from Mr Antti Santaharju, tel.+358 9 1734 2720.

Source: Monthly trend indicators 2008, May. Statistics Finland

Inquiries: Mr Aki Niskanen +358 9 1734 2657, palvelut.suhdanne@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 17.7.2008

Referencing instructions:

Official Statistics of Finland (OSF): Wage and salary indices [e-publication].
ISSN=1798-6125. May 2008. Helsinki: Statistics Finland [referred: 18.11.2024].
Access method: http://www.stat.fi/til/ktps/2008/05/ktps_2008_05_2008-07-17_tie_001_en.html