Home > Statistics > Wage and salary indices > 2010 > February > Wages and salaries sum fell by 1,5 per cent in December to February

Published: 16 April 2010

Wages and salaries sum fell by 1,5 per cent in December to February

The wages and salaries sum of the whole economy was 1,5 per cent smaller in the past December to February period than in the corresponding period twelve months back. In February alone the wages and salaries sum of the whole economy fell by 0,2 per cent. In the December to February period one year ago the wages and salaries sum grew by 2 per cent year-on-year.

Year-on-year change in wages and salaries sum in the 12/2009-2/2010 and 12/2008-2/2009 time periods, % (TOL 2008)

The growth in the wages and salaries sum slowed down or turned negative in nearly all main industries in the past December to February 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 (-9,2%) and construction (-3,3%). The wages and salaries sum fell also in financial intermediation (-1,9%), trade (-1,8%) and other services (-1,2%). 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.

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 from January 2010, which may mean that the 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, palvelut.suhdanne@stat.fi

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) (16.4.2010)

Figures

• Trends in the sum of wages and salaries by industry (TOL 2008) (16.4.2010)

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Updated 16.04.2010