Published: 14 September 2020

Wages and salaries sum fell by 3.0 per cent year-on-year in May to July

According to Statistics Finland’s data, the wages and salaries sum of the whole economy was 3.0 per cent lower in the May to July period than in the corresponding period twelve months earlier. In July, the wages and salaries sum of the whole economy grew by 1.2 per cent from the year before. One year previously in May to July, the wages and salaries sum of the whole economy increased by 3.8 per cent.

Three months’ year-on-year change in the wages and salaries sum, % (TOL 2008)

Three months’ year-on-year change in the wages and salaries sum, % (TOL 2008)

In May to July, the wages and salaries sum grew only in financial intermediation (1.7%). The wages and salaries sums of other services (-8.2%), trade (-4.8%), private education (-4.3%), manufacturing (-3.6%), construction (-0.4%) and private health and social work (-2.5%) decreased compared with the corresponding period of the year before.

Wages and salaries sum fell by 4.8 per cent in the private sector in May to July from one year back

The wages and salaries sum in the private sector was 4.8 per cent lower in May to July than twelve months earlier. The wages and salaries sum of the public sector was 3.1 per cent higher than in the corresponding period one year previously. In July, the wages and salaries sum in the private sector increased by 1.2 per cent and in the public sector by 3.4 per cent from one year earlier. In May to July one year ago, the wages and salaries sum grew by 4.2 per cent in the private sector and by 3.6 per cent in the public sector from the previous year.

Three months’ year-on-year change in the wages and salaries sum of the whole economy, and the private and the public sector, % (TOL 2008 and S 2012)

Three months’ year-on-year change in the wages and salaries sum of the whole economy, and the private and the public sector, % (TOL 2008 and S 2012)
The wages and salaries sum refers to the sum total of the gross wages and salaries paid to employees without incentive stock options. The wages and salaries sum is influenced by changes in employment and in the earnings level of wage and salary earners.

Source: Wage and salary indices, Statistics Finland

Inquiries: Heidi Myllylä 029 551 3473, palvelut.suhdanne@stat.fi

Head of Department: Hannele Orjala

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Updated 14.9.2020

Referencing instructions:

Official Statistics of Finland (OSF): Wage and salary indices [e-publication].
ISSN=1798-6125. July 2020. Helsinki: Statistics Finland [referred: 20.9.2020].
Access method: http://www.stat.fi/til/ktps/2020/07/ktps_2020_07_2020-09-14_tie_001_en.html