Published: 9 March 2012
Private sector labour costs increased by 3.7 per cent in October-December 2011 when compared with the respective period of the year before. Labour costs excluding one-off items, such as performance-based bonuses, rose by 3.8 per cent compared with the respective period of the year before. In the corresponding period the index of wage and salary earnings rose by 3.2 per cent in the private sector.
As the time series according to the new method is available only since the beginning of 2007, it has not been possible to adjust seasonally 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. Statistics Finland publishes seasonally and working day adjusted series when there are enough observations to calculate reliable results. There were two mid-week holidays in the fourth quarter of 2011,as in the year before.
Calculated by industry, the cost of an hour worked in industry increased by 3.1 per cent in October-December 2011 when compared with the respective period of the year before. The cost of an hour worked increased in the metall industry, by 0,9 per cent and in construction by 1.9 per cent in October-December 2011 when compared with the respective period of the year before. Services of the business economy the rise amounted to 3.3 per cent.
Annual changes in labour costs in all industries, industry, construction and services according to Standard Industrial Classification 2008
excluding one-off items
|G-N||Business Service Sector||3,3||3,4|
Source: Wages, Salaries and Labour Costs, Statistics Finland
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