Wages, salaries rise by 2.6% in February

The working day adjusted wages and salaries sum of the whole economy was 2.6 per cent higher in February 2024 than in February 2023, according to Statistics Finland.

The seasonally adjusted wages and salaries sum of the whole economy increased by 0.3 per cent in February from the month before.

The working day adjusted wages and salaries sum was 0.9 per cent higher in the private sector in February than twelve months earlier.

The wages and salaries sum in the public sector was 8.3 per cent higher than in the corresponding period one year previously.

In the private sector, the seasonally adjusted wages and salaries sum did not change from the month before but increased in the public sector by 0.7 per cent in February.

The working day adjusted wages and salaries sum grew in February 2024 in all other main industries but decreased in construction compared to February 2023.

The working day adjusted wages and salaries sum grew fastest in the industry of financial and insurance (7.4%). The wages and salaries sum increased more moderately in the industries of private health and social work (3.6%), private education (1.9%), other services (1.5%), manufacturing (1.3%) and trade (0.9%) but decreased in the industry of construction (6.3%).