In Finland nominal earnings of wage and salaries rose by 2.4% in the third quarter (July to September) of when compared to the same period of 2018.
According to preliminary data published by Statistics Finland, in the same quarter the real earnings (wages and salaries adjusted for inflation) rose by 1.4% compared to the previous year. The Finnish statistical office attributed this result to earnings rising faster than consumer prices.
The nominal earnings of wage and salary earners rose in July to September by 2.1 per cent in the private sector, by 3.2 per cent in the central government sector and by 3.4 per cent in the local government sector.
Source: Statistics Finland.
Regular earnings increased by 2.2
Regular earnings rose by 2.2 per cent in July to September 2019 when compared with the respective period in 2018. The growth amounted to 2.1 per cent in the private sector, to 2.4 per cent in the central government sector, and to 2.6 per cent in the local government sector.
According to Statistics Finland, the index for regular earnings describes the permanent change in earnings better than the index of wage and salary earnings because it does not take into account performance-based bonuses and non-recurring items included in collective agreements.