Published: 14 July 2021

Wages and salaries sum grew by 5.5 per cent year-on-year in March to May

According to Statistics Finland’s data, the wages and salaries sum of the whole economy was 5.5 per cent greater in the March to May period than in the corresponding period twelve months earlier. In May, the wages and salaries sum of the whole economy grew by 9.8 per cent from the year before. The development was partly due to the exceptional situation caused by the coronavirus one year earlier. One year previously in March to May, the wages and salaries sum of the whole economy fell by 2.3 per cent.

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

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

The growth in the wages and salaries sum was fastest in private health and social work (9.3%), private education (7.5%), trade (7.1%), manufacturing (6.1%) and other services (5.2%). The wages and salaries sum grew more moderately in the industries of financial intermediation (3.4%) and construction (4.1%).

Wages and salaries sum grew by 6.4 per cent in the private sector in March to May from one year ago

The wages and salaries sum in the private sector was 6.4 per cent greater in March to May than twelve months earlier. The wages and salaries sum of the public sector was 4.7 per cent higher than in the corresponding period one year previously. In May, the wages and salaries sum in the private sector increased by 12.3 per cent and in the public sector by 4.7 per cent from one year earlier. In March to May one year ago, the wages and salaries sum fell by 3.2 per cent in the private sector and grew by 0.4 per cent in the public 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)

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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Updated 14.7.2021

Referencing instructions:

Official Statistics of Finland (OSF): Wage and salary indices [e-publication].
ISSN=1798-6125. May 2021. Helsinki: Statistics Finland [referred: 31.7.2021].
Access method: http://www.stat.fi/til/ktps/2021/05/ktps_2021_05_2021-07-14_tie_001_en.html