HELSINKI: The wages and salaries sum of the whole economy was 2.1 per cent greater in the past March to May period than in the corresponding period twelve months earlier, according to Statistics Finland. The amount of wages and salaries of the whole economy contracted by 0.1 per cent in May alone year-on-year. In the March to May period one year ago, the wages and salaries sum fell by 0.1 per cent.
The wages and salaries sum grew in the March to May period in all main industries with the exception of education services provided by the private sector that remained on level with the previous year. The growth in the wages and salaries sum was fastest in private health and social work (3.9%), construction (3.7%) and other services (3.1%).
The wages and salaries sum in the private sector was 2.9 per cent greater in the March to May period than in the corresponding period twelve months earlier. In the public sector, the wages and salaries grew by 0.9 percent in the latest three-month period. In May alone, the wages and salaries sum in the private sector contracted by 0.5 per cent and in the public sector grew by 0.2 per cent, the data show.
In the March to May period one year ago the wages and salaries sum decreased by 0.7 per cent in the public sector and grew by 0.2 per cent in the private sector. The amount of wages and salaries refers to the sum total of the gross wages and salaries paid to employees without incentive stock options.
