Wages, salaries increase by 2% in March to May

The wages and salaries sum of the whole economy was 2.0 per cent greater in the past March to May than in the corresponding period twelve months earlier, according to Statistics Finland.

In May alone, the wages and salaries sum of the whole economy increased by 3.3 per cent from one year ago.

One year previously in March to May the wages and salaries sum increased by 1.5 per cent.

The wages and salaries sum grew fastest in construction, where growth amounted 7.6 per cent from the corresponding period last year.

The wages and salaries sums of other services (4.3 %), private health and social work (2.8 %), trade (1.3 %) and manufacturing (0.6 %) also grew.

The wages and salaries sum of financial intermediation was on the level with the previous year. The wages and salaries sum of private education declined by 1.2 per cent from the respective time period twelve months earlier

The wages and salaries sum in the private sector was 3.6 per cent higher in March to May than in the respective time period twelve months earlier.

In the public sector, the wages and salaries sum fell by 0.5 per cent compared to the respective time period twelve months back. In May alone, the wages and salaries sum in the private sector grew by 4.9 per cent from one year earlier.

In May, the wages and salaries sum in the public sector increased by 1.1 per cent from one year earlier. In the March to May period one year ago, the wages and salaries sum increased by 2.3 per cent in the private sector while it decreased 0.2 per cent in the public sector.