Home > Statistics > Wage and salary indices > 2021 > July > Wages and salaries sum grew by 8.6 per cent year-on-year in May to July

Published: 14 September 2021

Wages and salaries sum grew by 8.6 per cent year-on-year in May to July

According to Statistics Finland’s data, the wages and salaries sum of the whole economy was 8.6 per cent higher in the May to July period than in the corresponding period twelve months earlier. In July, the wages and salaries sum of the whole economy grew by 6.5 per cent from the year before. The development was partly due to the state of emergency caused by the coronavirus one year earlier. One year previously in May to July, the wages and salaries sum of the whole economy fell by 3.1 per cent.

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

The wages and salaries sum grew fastest in the industries of private health and social work (13.2%), other services (11.9%), private education (11.5%), trade (9.4%) and manufacturing (7.3%). The wages and salaries sum grew more moderately in the industries of financial intermediation (3.8%) and construction (5.6%).

Wages and salaries sum grew by 10.0 per cent in the private sector in May to July from one year back

The wages and salaries sum in the private sector was 10.0 per cent greater in May to July than twelve months earlier. The wages and salaries sum of the public sector was 6.3 per cent higher than in the corresponding period one year previously. In July, the wages and salaries sum in the private sector increased by 7.4 per cent and in the public sector by 4.7 per cent from one year earlier. In May to July one year ago, the wages and salaries sum fell by 4.9 per cent in the private sector and grew by 3.1 per cent in the public sector from the previous year.

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, palkkasumma@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) (14.9.2021)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (14.9.2021)
• Appendix figure 2. Trends in the sum of wages and salaries by sector (S 2012) (14.9.2021)

Revisions in these statistics

• Revisions in these statistics (14.9.2021)

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Updated 14.9.2021