Wages, salaries grow by 1.4% in March

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Wages, salaries grow by 1.4% in March

The working day adjusted wages and salaries sum of the whole economy was 1.4 per cent higher in March 2024 than in March 2023, according to Statistics Finland.

The seasonally adjusted wages and salaries sum of the whole economy, however, decreased by 0.7 per cent in March from the month before.

The working day adjusted wages and salaries sum decreased in the industry of construction by 6.6 per cent in March 2024 year-on-year but increased in the private sector by 0.1 per cent from the previous year.

The wages and salaries sum increased in the public sector in March 2024 by 5.4 per cent from the previous year.

In the private sector, the seasonally adjusted wages and salaries sum decreased by 1.0 per cent and in the public sector by 0.4 per cent in March from the month before.

Wages and salaries sum decreased in March 2024 in several main industries compared to March 2023.

The working day adjusted wages and salaries sum grew fastest in the industries of private health and social work (7.9%) and financial and insurance (6.2%).

The wages and salaries sum increased more moderately in the industry of private education (0.8%) but decreased in the industries of construction (6.5%), trade (3.0%), other services (1.4%) and manufacturing (1.3%).

Source: www.dailyfinland.fi

5 Comments
  1. AvaJohnson87 says

    It’s concerning to see the wages and salaries sum decreasing in certain sectors, such as construction and trade, while increasing in others like private health and social work. It’s crucial to address this imbalance and ensure fair compensation across all industries.

  2. AlexaSmith89 says

    Interesting data! Why did the wages and salaries sum decrease in the construction industry but increase in the private sector?

    1. ChrisJohnson54 says

      The wages and salaries sum in the construction industry decreased due to a slowdown in projects and demand, whereas the increase in the private sector can be attributed to growth in certain industries and companies within that sector.

  3. EmilySmith says

    It’s concerning to see that while wages and salaries in some sectors are increasing, there are significant decreases in others. The disparities within different industries need to be addressed to ensure fair compensation for all workers.

  4. EmilySmith83 says

    Interesting data! How do these wage and salary trends in various industries reflect the overall economic growth in Finland?

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