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Private sector cost of an hour worked increased by 3.3 per cent in October to December 2022

release 10/03/2023 | Labour cost index 2022, 4th quarter

According to Statistics Finland, labour costs in the private sector rose by 3.3 per cent in October to December 2022 when compared to the respective period of the year before. In the central government sector, costs grew by 6.7 per cent and in the local government sector by 7.0 per cent. The fourth quarter of 2022 had 63 workingdays, which is one less than in the corresponding period of 2021.

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Key selections

The costs of an hour worked grew by 3.3 per cent in the private sector, by 6.7 per cent in the central government sector and by 7.0 per cent in the local government sector in October to December 2022 when compared to the respective period of the year before.
Of private sector industries, the biggest rise in costs, 6.9 per cent, was seen in transportation and storage.
The smallest rise in costs, 0.9 per cent, was recorded in information and communication.

Statistics used in the release

Labour cost index

Tables

See key statistical data in the tables.

10/03/2023

Labour costs, index points 2020Q4-2022Q4

10/03/2023

Labour costs, annual change percentages 2020Q4-2022Q4

Data revisions

See key statistical data in the tables.

10/03/2023

Revisions to annual changes in the original labour cost index by sector

	1/2021	2/2021	3/2021	4/2021	1/2022	2/2022	3/2022
Private sector	1st release, %	3,2	2,4	4,2	3,9	2,6	2,5	0,7
Latest release, %	3,2	2,8	4,1	3,9	2,8	2,0	0,6
Revision, %-points	0,0	0,4	-0,1	0,0	0,2	-0,5	-0,1
Central government	1st release, %	2,1	2,5	5,4	2,4	1,9	3,3	2,4
Latest release, %	2,1	2,6	5,3	2,4	1,9	3,3	2,4
Revision, %-points	0,0	0,1	-0,1	0,0	0,0	0,0	0,0
Local government	1st release, %	3,7	2,4	3,0	4,3	4,7	3,0	4,8
Latest release, %	3,5	2,5	3,1	4,3	4,6	3,2	4,4
Revision, %-points	-0,2	0,1	0,1	0,0	-0,1	0,2	-0,4

10/03/2023

Revisions to annual changes in the seasonally adjusted labour cost index by sector

	1/2021	2/2021	3/2021	4/2021	1/2022	2/2022	3/2022
Private sector	1st release, %	2,1	2,2	3,2	3,7	3,1	2,0	0,8
Latest release, %	2,4	2,9	3,6	3,4	3,2	1,7	0,9
Revision, %-points	0,3	0,7	0,4	-0,3	0,1	-0,3	0,1
Central government	1st release, %	2,0	2,0	5,1	2,9	2,0	2,8	2,2
Latest release, %	2,4	2,3	4,8	2,5	2,3	3,0	2,5
Revision, %-points	0,4	0,3	-0,3	-0,4	0,3	0,2	0,3
Local government	1st release, %	3,4	2,3	2,8	4,1	4,4	3,2	4,6
Latest release, %	3,4	2,4	3,1	3,9	4,5	3,6	4,6
Revision, %-points	0,0	0,1	0,3	-0,2	0,1	0,4	0,0