Wages, salaries grow by 1.2% in Q3

The wages and salaries sum of the whole economy was 1.2 per cent greater in the past July to September, according to Statistics Finland.

In September alone, the wages and salaries sum of the whole economy increased by 2.6 per cent from one year ago. One year previously in July to September the wages and salaries sum increased by 2.5 per cent.

The wages and salaries sum grew fastest in financial intermediation, where growth amounted 4.6 per cent from the corresponding period last year. The wages and salaries sums of other services (4.3 %), construction (3.7 %), private health and social work (2.1 %), trade (0.9 %) and manufacturing (0.1 %) also grew. 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 3.0 per cent greater in July to September. In the public sector, the wages and salaries sum fell by 2,1. In September alone, the wages and salaries sum in the private sector grew by 3.9 per cent from one year earlier. In September, the wages and salaries sum in the public sector increased by 0.2 per cent from one year earlier. In the July to September period one year ago, the wages and salaries sum increased by 3.9 per cent in the private sector while decreased 0.1 per cent in the public sector.