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Home BUSINESSPay sum ups by 3.0% in July-Sept
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Sat, 12 Nov, 2016 01:32:11 AM
FTimes Report, Nov 12

The wages and salaries sum of the whole economy was 3.0 per cent greater in the past July to September period than in the corresponding period twelve months earlier, according to Statistics Finland’s data.

In September alone, the total amount of wages and salaries of the whole economy grew by 4.7 per cent from one year ago.

One year previously in July to September the pay sum of the whole economy increased by 0.6 per cent.

There was one Friday more in September 2016 than in September 2015, which boosted the growth of the wages and salaries sum in several industries.

In July to September, the wages and salaries sum grew fastest in construction, where the growth amounted to 10.1 per cent from one year ago, the statistics show.

The wages and salaries sums of private health and social work (6.9 %), other services (4.6 %), financial intermediation (3.2 %), trade (2.4 %) and manufacturing (1.5 %) also grew.

The wages and salaries sum of private education (-1.8 %) declined from the respective time period twelve months earlier.

The wages and salaries sum in the private sector was 4.4 per cent greater in July to September than in the respective time period twelve months earlier.

In the public sector, the wages and salaries sum remained in the same level than in the respective time period twelve months back.

In September alone, the wages and salaries sum in the private sector increased by 7.3 per cent from one year earlier while in the public sector it decreased by 0.4 per cent from one year earlier.

In the July to September period one year ago, the pay sum increased by 1.6 per cent in the private sector while decreased 0.8 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.

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