Wages, salaries grow 4.4% in August-October

The sum of wages and salaries in the whole economy was 4.4 per cent higher in the August to October period than in the corresponding period 12 months earlier, according to the Statistics Finland’s data.

In October, the sum of wages and salaries in the whole economy grew by 4.8 per cent from the year before. One year previously, in August to October, the sum of wages and salaries of the whole economy increased by 2.9 per cent.

The sum of wages and salaries grew in all main industries in August to October. The sum of wages and salaries grew most in construction industries (6.3%), other services (6.2%), private health and social work (4.3%), trade (3.7%), and manufacturing (3.3%). The increase in the sum of wages and salaries was most moderate in the financial intermediation industries (2.8 %) and private education (1.9 %).

The sum of wages and salaries grew by 5.3 per cent in the private sector in August to October year-on-year.

The sum of wages and salaries in the private sector was 5.3 per cent greater in August to October than in one year earlier. The sum of wages and salaries in the public sector was 2.9 per cent higher than in the corresponding period one year previously. In October, the sum of wages and salaries in the private sector increased by 5.5 per cent and in the public sector by 3.1 per cent from one year earlier. In August to October one year ago, the sum of wages and salaries grew by 4.4 per cent in the private sector and by 0.5 per cent in the public sector from one year back.