Wages, salaries grow by 2.9% in Q4, 2017

The wages and salaries sum of the whole economy was 2.9 per cent greater in October to December, 2017 than in the corresponding period twelve months earlier, according to Statistics Finland.

In December, the wages and salaries sum of the whole economy grew by 2.2 per cent from the corresponding month of the year before.

One year previously in October to December, the wages and salaries sum of the whole economy increased by 1.5 per cent.

In October to December, the wages and salaries sum grew fastest in construction, where the growth amounted to 6.1 per cent from one year ago.

The wages and salaries sums of other services (5.1%), manufacturing (2.8%), trade (2.5%), private health and social work (2.4%) and financial intermediation (0.7%) also grew.

The wages and salaries sum of private education (-0.2%) decreased compared to the corresponding period of one year ago.

The wages and salaries sum in the private sector was 4.5 per cent greater in October to December than twelve months earlier. The wages and salaries sum of the public sector was 0.8 per cent higher than in the corresponding period one year previously.

In December, the wages and salaries sum in the private sector increased by 3.3 per cent and in the public sector by 1.1 per cent from one year earlier