Wages, salaries grow by 1.3% in June- Aug

The wages and salaries sum of the whole economy was 1.3 per cent greater in the past June to August compared to the corresponding period of the year before, according to Statistics Finland.

In August alone, the wages and salaries sum of the whole economy increased by 2.8 per cent from one year ago. One year previously in June to August the wages and salaries sum increased by 1.5 per cent.

The wages and salaries sum grew fastest in construction, where growth amounted 6.9 per cent from the corresponding period last year.

The wages and salaries sums of other services (4.6 %), private health and social work (2.5 %), financial intermediation (2.2 %), manufacturing (2.1 %) and trade (1.0 %) also grew. The wages and salaries sum of private education declined by 1.4 per cent from the respective time period twelve months earlier.

The wages and salaries sum in the private sector was 4.1 per cent greater in June to August. In the public sector, the wages and salaries sum fell by 3.8 per cent. In August alone, the wages and salaries sum in the private sector grew by 4.5 per cent from one year earlier. In August, the wages and salaries sum in the public sector increased by 0.3 per cent from one year earlier. In the June to August period one year ago, the wages and salaries sum increased by 2.4 per cent in the private sector while it decreased 0.1 per cent in the public sector.