Home > Statistics > Wage and salary indices > 2010 > January > Wages and salaries sum fell by 2,2 per cent in November to January

Published: 16 March 2010

Wages and salaries sum fell by 2,2 per cent in November to January

The wages and salaries sum of the whole economy was 2,2 per cent smaller in the past November to January period than in the corresponding period twelve months back. In the November to January period one year ago the wages and salaries sum grew by 3,5 per cent year-on-year.

The growth in the wages and salaries sum slowed down or turned negative in nearly all main industries in the past November to January period. The development in the wages and salaries sum of the whole economy was held back most strongly by falls in the wages and salaries sums in manufacturing (-10,5%) and construction (-4,1%). The wages and salaries sum fell also in financial intermediation (-2,9%), trade (-2,6%) and other services (-1,8%). In the public sector the wages and salaries sum grew slightly faster than twelve months previously. In the private educational services sector, and in private health and social work the growth in the wages and salaries sum slowed down from the year before.

Year-on-year change in wages and salaries sum in the 11/2009-1/2010 and 11/2008-1/2009 time periods, % (TOL 2008)

Tax account reform causes revisions to the data of wage and salary indices

Starting from data on January 2010, the wage and salary indices will be compiled from data on the periodic tax returns allowed in the Tax Administration’s tax account reform. According to our analysis the impact on these statistics from the implemented tax account reform will remain quite minor. However, slightly less data than before will be available for January 2010, which may mean that the January time series of the wage and salary indices become slightly revised in future releases. Further information about the impacts of the changes in the data on the wage and salary indices can be found under Revisions in these statistics . Information about the tax account reform is also available on the Tax Administration’s website at: www.vero.fi .

Source: Wage and salary indices, Statistics Finland

Inquiries: Aki Niskanen (09) 1734 2657

Director in charge: Hannele Orjala

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Appendix tables

• Three-month moving change and change in the latest month, year-on-year, % (TOL 2008) (16.3.2010)

Figures

• Trends in the sum of wages and salaries by industry (TOL 2008) (16.3.2010)

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Updated 16.03.2010