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Tue, 12 Jul, 2016 12:08:55 AM FTimes Report, Jul 12  Year-on-year change in wages and salaries sum in the 03/2016–05/2016 and 03/2015–05/2015 time periods, % (TOL 2008). Source: Wage and salary indices, Statistics Finland. The wages and salaries sum of the whole economy was 1.7 per cent greater in the past March to May period than in the corresponding period twelve months earlier, according to Statistics Finland.
In March alone, the sum total of wages and salaries of the whole economy grew by 1.1 per cent from one year ago.
One year previously, the wages and salaries sum of the whole economy increased by 1.6 per cent.
In March to May, the sum total of wages and salaries grew fastest in private health and social work, where the growth amounted to 7.8 per cent from one year ago.
The wages and salaries sums of construction (7.3 %), financial intermediation (3.3 %), other services (3.2 %) and trade (2.3 %) also grew, the data show.
The wages and salaries sum of manufacturing (-1.9 %) and private education (-1.1 %) declined from the respective time period twelve months earlier.
The total amount of wages and salaries in the private sector was 2.6 per cent greater in March to May than in the respective time period twelve months earlier.
In the public sector, the wages and salaries sum decreased by 0.2 per cent in the latest three-month period from twelve months back.
In May alone, the wages and salaries sum in the private sector increased by 1.9 per cent from one year earlier.
Annual change in the wages and salaries sum of the whole economy, and the private and public sector in 03/2016–05/2016 and 03/2015–05/2015, % (TOL 2008 and S 2012). Source: Wage and salary indices, Statistics Finland. The wages and salaries sum in the public sector decreased by 0.4 per cent in May from one year earlier.
In the March to May period one year ago, the wages and salaries sum increased by 2.3 per cent in the private sector and by 0.6 per cent in the public sector.
The wages and salaries sum refers to the sum total of the gross wages and salaries paid to employees without incentive stock options.
The sum total of wages and salaries is influenced by changes in employment and in the earnings level of wage and salary earners.
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