Published: 8 December 2010
Private sector labour costs decreased by -0.5 per cent in July-September 2010 when compared with the respective period of the year before. Labour costs excluding one-off items, such as performance bonuses, rised 0,5 percent compared with the respective time period of the year before. In the third quarter of 2010 the index of wage and salary earnings rose 2.0 per cent in the private sector. Both hours not worked but paid decline and periodic bonuses decline slowed down labour costs.
As the time series according to the new method is available only since the beginning of 2007, it has not been possible to seasonally adjust the index data.The timing of so-called moving mid-week holidays, such as Easter and Epiphany, affects the comparability of data concerning the first, second and fourth quarters. Mid-week holidays decrease causes labour costs fall in Labour Cost Index. One mid-week holiday's calculated influence is about 1.5 percent. Statistics Finland publishes seasonally and working day adjusted series when there are enough observations to calculate reliable results. There was no mid-week holidays in the third quarter.
Calculated by industry, the cost of an hour worked in industry decreased by –4.1 per cent in July-September 2010 when compared with the respective time period of the year before. The cost of an hour worked reduced in metall industry, at –8.8 per cent and in chemical industry rose 4.7 per cent. Labour cost rose in construction rose by 0.8 per cent in July-September 2010 when compared with the respective time period of the year before. In service industries the rise amounted to 1.7 per cent.
Annual changes of Labour cost in all industries, industry, construction and services according Standard Industrial Classification 2008
excluding one-off items
Source: Wages, Salaries and Labour Costs, Statistics Finland
Inquiries: Pekka Haapala (09) 1734 3460, email@example.com
Director in charge: Kari Molnar
Publication in pdf-format (268.6 kB)