Wages, salaries grow by 6% in Q3

The wages and salaries sum of the whole economy was 6.0 per cent greater 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 6.1 per cent from the year before.

One year previously in the July to September period, the wages and salaries sum of the whole economy fell by 0.4 per cent.

The wages and salaries sum grew in all main industries in July to September. The wages and salaries sum grew fastest in the industries of private health and social work (9.5%), other services (7.6%), private education (6.8%), manufacturing (5.7%) and trade (5.0%).

The increase in the wages and salaries sum was more moderate in construction (4.3%) and financial intermediation (4.9%).

The wages and salaries sum in the private sector was 6.9 per cent greater in July to September compared to one year ago.

The wages and salaries sum of the public sector was 4.9 per cent higher than in the corresponding period one year previously.

In September, the wages and salaries sum in the private sector increased by 7.0 per cent and in the public sector by 4.9 per cent from one year earlier.

In the July to September period one year ago, the wages and salaries sum fell by 1.0 per cent in the private sector and grew by 2.3 per cent in the public sector from the year before.