Wages and salaries grow by 1.7% | business

Sat, 12 Apr, 2014 12:14:11 AM

FTimes Report, April 12

Year-on-year change in wages and salaries sum in the 12/2013-02/2014 and 12/2012-02/2014 time periods, % (TOL 2008). Source: Statistics Finland.

The wages and salaries sum of the whole economy was 1.7% greater in the past December-February period than in the corresponding period twelve months earlier, according to the Statistics Finland.

In February alone, the wages and salaries sum of the whole economy grew by 0.8% year-on-year and in the December-February period one year ago, the wages and salaries sum grew by 1.1%.

Annual change in the wages and salaries sum of the whole economy, and the private and public sector in 12/2013–02/2014 and 12/2012–02/2013, % (TOL 2008 and S 2012). Source: Statistics Finland.

The wages and salaries sum grew in the December-February period in all main industries with the exception of the financial intermediation (-1.7%). The growth was fastest in the private health and social work (4.8 %) and construction (4.7 %).

There was one Friday more in January 2014 than in January 2013, which boosted the growth of the wages and salaries sum in several industries in the December-February period.

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.

The wages and salaries sum grew by 2% in the private sector in December to February year-on-year.

Finland Times