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Published: 10 September 2015

Wages and salaries sum grew fastest in construction in May to July

According to Statistics Finland's data, the wages and salaries sum of the whole economy was 1.2 per cent higher in the May to July period than in the corresponding period of the previous year. The growth in the wages and salaries sum was fastest in the construction (4.7 %). In July alone the wages and salaries sum of the whole economy grew by 2.5 per cent from one year ago. There was one Friday more in July 2015 than in July 2014, which boosted the growth of the wages and salaries sum in several industries. In May to July period one year ago, the wages and salaries sum of the whole economy increased by 0.3 per cent.

Year-on-year change in wages and salaries sum in the 05-07/2015 and 05-07/2014 time periods, % (TOL 2008)

The wages and salaries sum grew in the May to July period in all main industries with the exception of education services provided by the privite sector (-0.5 %) and manufacturing (-0.8 %). In addition to construction, the wages and salaries sum also increased in other services (2.9 %), private health and social work (2.7 %), financial intermediation (2.2%) and trade (0.9%).

Wages and salaries sum grew by 1.9 per cent in the private sector in May to July year-on-year

The wages and salaries paid in the private sector was 1.9 per cent greater in the May to July period than in the respective time period twelve months earlier. At the same time, the wages and salaries sum in the public sector fell by 0.1 per cent year-on-year. In July alone the wages and salaries sum of the private sector grew by 4.7 per cent and fell by 0,7 per cent in the public sector. There was one Friday more in July 2015 than in July 2014, which boosted the growth of the wages and salaries sum in the private sector. In the May to July period one year ago, the wages and salaries sum grew by 0.9 per cent in the private sector and fell by 0.1 per cent in the public sector from one year back.

Annual change in the wages and salaries sum of the whole economy, and the private and public sector in 05–07/2015 and 05–07/2014, % (TOL 2008 and S 2012)

The wages and salaries sum refers to the sum total of the gross wages and salaries paid to employees without incentive stock options. The wages and salaries sum is influenced by changes in employment and in the earnings level of wage and salary earners.

Source: Wage and salary indices, Statistics Finland

Inquiries: Suvi Kiema 029 551 2738, Godfrey Lowndes 029 551 3423, palvelut.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Year-on-year change in the sum of wages and salaries by industry and sector, % (TOL 2008 and S 2012) (10.9.2015)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (10.9.2015)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (10.9.2015)

Revisions in these statistics

• Revisions in these statistics (10.9.2015)

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Updated 10.9.2015