Home > Statistics > Wage and salary indices > 2017 > March > Wages and salaries sum grew by 2.4 per cent year-on-year in January to March

Published: 12 May 2017

Wages and salaries sum grew by 2.4 per cent year-on-year in January to March

According to Statistics Finland, the wages and salaries sum of the whole economy was 2.4 per cent greater in the past January to March period than in the corresponding period twelve months earlier. In March alone, the wages and salaries sum of the whole economy increased by 2.5 per cent from one year ago. One year previously in January to March the wages and salaries sum of the whole economy increased by 0.9 per cent. There was one Friday more in March 2017 than in March 2016, which boosted the growth of the wages and salaries sum in several industries.

Year-on-year change in wages and salaries sum in the 01/2017–03/2017 and 01/2016–03/2016 time periods, % (TOL 2008)

In January to March, the wages and salaries sum grew fastest in construction, where the growth amounted to 11.9 per cent from one year ago. The wages and salaries sums of other services (4.7 %), private health and social work (2.9 %), financial intermediation (2.7 %), trade (1.5 %) and manufacturing (0.6 %) also grew. The wages and salaries sum of private education declined 1,1 per cent from the respective time period twelve months earlier.

The wages and salaries sum grew by 4.3 per cent in the private sector in January to March year-on-year

The wages and salaries sum in the private sector was 4.3 per cent greater in January to March than in the respective time period twelve months earlier. In the public sector, the wages and salaries sum fell by 0,4 than in the respective time period twelve months back. In January alone, the wages and salaries sum in the private sector grew by 4.7 per cent from one year earlier. In January, the wages and salaries sum in the public sector fell by 0,7 from one year earlier. In the January to March period one year ago, the wages and salaries sum increased by 1.7 per cent in the private sector while decreased 0.7 per cent in the public sector.

Annual change in the wages and salaries sum of the whole economy, and the private and public sector in 01/2017–03/2017 and 01/2016–03/2016, % (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.

The wage and salary indices adopted new treatment for closures of small enterprises starting from the data for May 2016. This affected the revision of data at the turn of the year and in early 2016.

Source: Wage and salary indices, Statistics Finland

Inquiries: Katja Äijö 029 551 2659, 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) (12.5.2017)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (12.5.2017)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (12.5.2017)

Revisions in these statistics

• Revisions in these statistics (12.5.2017)

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Updated 12.05.2017