Home > Statistics > Labour cost index > 2012 > 4th quarter > Cost of an hour worked increased by 4.3 per cent in October to December

Published: 12 March 2013

Cost of an hour worked increased by 4.3 per cent in October to December

In the private sector, labour costs increased by 4.3 per cent in October to December 2012 when compared with the respective period of the year before. Seasonally adjusted labour costs in the private sector rose by 2.6 per cent in October to December 2012. Labour costs excluding one-off items, such as performance-based bonuses, rose by 4.4 per cent compared with the respective period of the year before. In the corresponding period, the index of wage and salary earnings rose by 3.3 per cent in the private sector.

In the central government sector, labour costs grew by 6.1 per cent in October to December 2012 when compared with the respective period of the year before. Labour costs excluding one-off items, such as performance-based bonuses, rose by 6.2 per cent compared with the respective period of the year before. The fourth quarter of 2012 had two mid-week holidays more than the corresponding period in the year before. The decrease of working days increases labour costs in the Labour Cost Index. The approximated effect of one working day is 1.5 per cent. In the local government sector, labour costs increased 4.1 per cent and costs excluding one-off items rose 3.3 in October to December.

Year-on-year change in labour costs in the private sector from the respective quarter of previous year %, original and seasonally adjusted series

The series of the Labour cost index are seasonally adjusted with the Tramo/Seats method. The latest observations of the series adjusted for seasonal and random variation become revised with new observations in seasonal adjustment methods. Revisions especially at turning points of economic trends may be significant, which should be taken into consideration when using seasonally adjusted and trend data. Further information on the seasonal adjustment method: http://www.tilastokeskus.fi/til/tramo_seats_en.html .

Calculated by industry, the cost of an hour worked in all manufacturing increased by 4.4 per cent in October to December 2012 when compared with the respective period of the year before. The cost of an hour worked increased in the metal industry, by 4.7 per cent and in construction by 4.6 per cent in October to December 2012 when compared with the respective period of the year before. In the business services sector the rise amounted to 3.8 per cent.

Seasonally adjusted cost of an hour worked rose by 2.4 per cent in all manufacturing in October to December 2012 when compared with the respective period of the year before. In the metal industry, the cost of an hour worked went up by 0.5 per cent and in construction by 2.2 per cent in the October to December period of 2012 from the same period of the previous year. The respective rise in business service activities was 3.1 per cent.

Annual changes in labour costs in all industries, manufacturing, construction and services according to Standard Industrial Classification 2008

Code	Industry	Labour Costs, Year-on-year change
		Labour costs	Labour costs, excluding one-off items	Labour Costs, seasonally adjusted
B-S	Total	4,3	4,4	2,6
B-E	Industry	4,4	4,9	2,4
F	Construction	4,6	4,3	2,2
G-N	Business service sector	3,8	3,8	3,1
J-R	State sector	6,1	6,2	..
E-S	Local government sector	4,1	3,3	..

Source: Wages, Salaries and Labour Costs, Statistics Finland

Inquiries: Pekka Haapala 09 1734 3460, tvkindeksi@stat.fi

Director in charge: Hannele Orjala

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Appendix tables

• Appendix table 1. Labour costs, Labour Cost Index 2008=100 (12.3.2013)
• Appendix table 2. Labour costs, percentage changes, Labour Cost Index 2008=100 (12.3.2013)
• Appendix table 3. Labour costs, excluding one-off items, Labour Cost Index 2008=100 (12.3.2013)
• Appendix table 4. Labour costs, excluding one-off items, percentage changes, Labour Cost Index 2008=100 (12.3.2013)
• Appendix table 5. Seasonally adjusted labour costs, Labour Cost Index 2008=100 (12.3.2013)
• Appendix table 6. Seasonally adjusted labour costs, percentage changes, Labour Cost Index 2008=100 (12.3.2013)
• Appendix table 7. Standard Industrial Classification 2008 (12.3.2013)

Revisions in these statistics

• Revisions in these statistics (12.3.2013)

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Updated 12.3.2013