Wages, salaries rise in December 2024 Y-on-Y

The working day adjusted wages and salaries sum of the whole economy was 4.8 per cent higher in December 2024 than in December 2023, according to Statistics Finland.

The seasonally adjusted wages and salaries sum of the whole economy increased by 1.8 per cent in December from the previous month.

The working day adjusted wages and salaries sum increased in the private sector by 3.5 per cent from the previous year.

The wages and salaries sum increased in the public sector by 3.7 per cent.

The working day adjusted wages and salaries sum was 3.5 per cent higher in the private sector in December than twelve months earlier. The wages and salaries sum in the public sector was 3.7 per cent higher than a year earlier in the corresponding period.

In the private sector, the seasonally adjusted wages and salaries sum increased by 1.9 per cent and in the public sector by 0.2 per cent in December from the month before.

The wages and salaries sum increased in December 2024 in all main industries compared to December 2023. The working day adjusted wages and salaries sum increased significantly in the industries of manufacturing (9%), finance and insurance (5.9 %) and private health and social work (4.9 %). The growth was moderate in the industries of construction (2.7 %), other services (2.3 %), trade (1.7 %) and private education (0.5 %).