Wages, salaries go up by 2.7% in Aug-Oct

The wages and salaries sum of the whole economy was 2.7 per cent greater in August to October than in the corresponding period one year before, according to Statistics Finland.

In October alone, the wages and salaries sum of the whole economy increased by 3.1 per cent from one year ago. One year previously in August to October, the wages and salaries sum of the whole economy increased by 2.1 per cent.

The wages and salaries sum grew fastest in construction, where growth amounted 6.3 per cent from the corresponding period last year. The wages and salaries sums of other services (5.1 %), financial intermediation (4.2 %), private health and social work (2.5 %), manufacturing (1.8 %) and trade (1.4 %) also grew. The wages and salaries sum of private education declined by 0.6 per cent from the respective time period twelve months earlier.

The wages and salaries sum in the private sector was 4.2 per cent greater in August to October than in the corresponding period one year earlier. In the public sector, the wages and salaries sum grew by 0.6.

In October alone, the wages and salaries sum in the private sector grew by 4.6 per cent and the wages and salaries sum in the public sector increased by 1.4 per cent from one year earlier.

In the August to October period one year ago, the wages and salaries sum increased by 3.0 per cent in the private sector and by 0.1 per cent in the public sector.