Home > Statistics > Wage and salary indices > 2020 > August > Wages and salaries sum fell by 1.6 per cent year-on-year in June to August

Published: 14 October 2020

Wages and salaries sum fell by 1.6 per cent year-on-year in June to August

According to Statistics Finland’s data, the wages and salaries sum of the whole economy was 1.6 per cent lower in the June to August period than in the corresponding period twelve months earlier. In August, the wages and salaries sum of the whole economy decreased by 2.7 per cent from the year before. One year previously in June to August, the wages and salaries sum of the whole economy increased by 3.1 per cent.

Three months’ year-on-year change in the wages and salaries sum, % (TOL 2008)

In June to August, the wages and salaries sum grew only in the industries of financial intermediation (1.4 %) and private health and social work (0.9 %). The wages and salaries sums decreased in other services (-5.4 %), manufacturing (-2.8 %), private education (-2.2 %), trade (-2.2 %) and construction (-0.5 %) compared with the corresponding period of the previous year.

Wages and salaries sum fell by 2.9 per cent in the private sector in June to August from one year back

The wages and salaries sum in the private sector was 2.9 per cent lower in June to August than twelve months earlier. The wages and salaries sum of the public sector was 3.3 per cent higher than in the corresponding period one year previously. In August, the wages and salaries sum decreased by 3.9 per cent in the private sector and grew by 0.5 per cent in the public sector from one year earlier. In the June to August period one year ago, the wages and salaries sum grew by 3.5 per cent in the public sector and by 3.2 per cent in the private sector from the year before.

Three months’ year-on-year change in the wages and salaries sum of the whole economy, and the private and the public sector, % (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: Heidi Myllylä 029 551 3473, palvelut.suhdanne@stat.fi

Head of Department in charge: Hannele Orjala

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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) (14.10.2020)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (14.10.2020)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (14.10.2020)

Revisions in these statistics

• Revisions in these statistics (14.10.2020)

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Updated 14.10.2020