Wage, salary fall by 0.3% in Q3

The wages and salaries sum of the whole economy was 0.3 per cent lower in the July to September period than in the corresponding period twelve months earlier, according to Statistics Finland.

In September, the wages and salaries sum of the whole economy grew by 0.6 per cent from the year before. One year previously in the July to September period, the wages and salaries sum of the whole economy increased by 3.6 per cent.

In July to September, the growth in the wages and salaries sum was fastest in the industry of private health and social work, which grew by 4.2 per cent from the previous year.

The wages and salaries sums of financial intermediation (2.3 %), private education (0.8 %), trade (0.4 %) and construction (0.2 %) also grew.

The wages and salaries sums of other services (-3.0 %) and manufacturing (-1.7 %) decreased compared with the corresponding period of the year before.

The wages and salaries sum in the private sector was 0.8 per cent lower in July to September compared to one year ago.

The wages and salaries sum of the public sector was 2.3 per cent higher than in the corresponding period one year previously.

In September, the wages and salaries sum in the private sector increased by 0.2 per cent and in the public sector by 2.8 per cent from one year earlier.

In the July to September period one year ago, the wages and salaries sum grew by 4.0 per cent in the private sector and by 3.1 per cent in the public sector from the year before.