Wages and salaries sum grew in June 2022

The working day adjusted wages and salaries sum grew in June 2022 in all main industries compared to June 2021. The working day adjusted wages and salaries sum increased fastest in the industries of other services (11.2%), private health and social work (6.8%), trade (6.1%), financial intermediation (5.9%), private education (5.0%) and manufacturing (4.8%). The wages and salaries sum rose most moderately in construction (3.6%).

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Wages and salaries sum grew by 7.9 per cent in the private sector in June from the previous year

In June, the working day adjusted wages and salaries sum was 7.9 per cent higher in the private sector than twelve months earlier. The wages and salaries sum in the public sector was 2.4 per cent higher than in the corresponding period one year previously. In the private sector, the seasonally adjusted wages and salaries sum grew by 0.3 per cent in June and in the public sector by 0.8 per cent from the month before.

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The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, various weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.