Wages, salaries grow slightly in Q1

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

In March, the wages and salaries sum of the whole economy grew by 1.2 per cent from the year before. One year previously in January to March, the wages and salaries sum of the whole economy increased by 2.7 per cent.

In January to March, the wages and salaries sum increased in the industries of private health and social work (3.0%), trade (2.1%), private education (2.0%), financial intermediation (1.9%) and manufacturing (1.5%).

The wages and salaries sums of other services (-3.5%) and construction (-1.8%) decreased compared with the corresponding period of the year before.

The wages and salaries sum in the private sector, however, was 0.3 per cent lower in January to March than twelve months earlier.

The wages and salaries sum of the public sector was 3.0 per cent higher than in the corresponding period one year previously. In March, the wages and salaries sum in the private sector increased by 1.2 per cent and in the public sector by 3.5 per cent from one year earlier.

In January to March one year ago, the wages and salaries sum grew by 3.7 per cent in the private sector and by 0.6 per cent in the public sector from the previous year.