Wages and salaries sum grow by 3%

Wages and salaries sum of the whole economy was 3.7 per cent greater in the January to March period than in the corresponding period twelve months earlier, according to Statistics Finland’s data

In March, the wages and salaries sum of the whole economy grew by 2.7 per cent from the year before. One year previously in January to March, the wages and salaries sum of the whole economy increased by 4.7 per cent. No February and March figures will be published for the public sector, so they are not included in the wages and salaries sum of the whole economy for February and March.

The wages and salaries sum grew in all main industries in January to March. The growth in the wages and salaries sum was fastest in private health and social work (7.2%), construction (4.2%), other services (4.1%), private education (3.5%) and financial intermediation (3.2%). The wages and salaries sum grew most moderately in manufacturing (1.9%) and trade (1.4%).

The wages and salaries sum in the private sector was 3.6 per cent greater in January to March than twelve months earlier. In March alone, the wages and salaries sum of the private sector grew by 2.9 per cent. In the January to March period one year ago, the wages and salaries sum grew by 6.5 per cent in the private sector from the previous year.

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.