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Published: 10 December 2013

Cost of an hour worked increased by 0.6 per cent in July to September

In the private sector, labour costs increased by 0.6 per cent in July to September 2013 when compared with the respective period of the year before. Seasonally adjusted labour costs in the private sector rose by 2.1 per cent in July to September 2013. Labour costs excluding one-off items, such as performance-based bonuses, rose by 1.1 per cent compared with the respective period of the year before. In the corresponding period, the index of wage and salary earnings rose by 2.2 per cent in the private sector.

Year-on-year change in labour costs in the private sector from the respective quarter of previous year %, original and seasonally adjusted series

Year-on-year change in labour costs in the private sector from the respective quarter of previous year %, original and seasonally adjusted series

In the central government sector, labour costs grew by 4.0 per cent in July to September 2013 when compared with the respective period of the year before. Labour costs excluding one-off items, such as performance-based bonuses, rose by 4.4 per cent compared with the respective period of the year before. In the local government sector, labour costs increased 2.9 per cent and costs excluding one-off items rose 2.7 per cent in July to September. The third quarter of 2013 had one working day more than the corresponding period in the year before. The increase of working days decreases labour costs in the not seasonally adjusted Labour Cost Index series.

The series of the Labour cost index are seasonally adjusted with the Tramo/Seats method. The latest observations of the series adjusted for seasonal and random variation become revised with new observations in seasonal adjustment methods. Revisions especially at turning points of economic trends may be significant, which should be taken into consideration when using seasonally adjusted and trend data. Further information on the seasonal adjustment method: http://www.tilastokeskus.fi/til/tramo_seats_en.html .

Calculated by industry, the cost of an hour worked in all manufacturing went down by 0.4 per cent in July to September 2013 when compared with the respective period of the year before. Both the sum of wages and salaries and hours worked decreased in all manufacturing. The bigger decline in the sum of wages and salaries compared to that in hours worked lead to a drop in the hourly cost. The cost of an hour worked increased in the chemical industry by 3.6 per cent and in construction by 1.9 per cent in July to September 2013 when compared with the respective period of the year before. In the business services sector the rise amounted to 1.3 per cent. In the metal industry the cost of an hour worked decreased by 2.1 per cent and in the transportation and storage industry by 0.1 per cent. In the financial and insurance activities the costs went down by 1.7 per cent.

Seasonally adjusted cost of an hour worked decreased by 0.8 per cent in all manufacturing in July to September 2013 when compared with the respective period of the year before. In the chemical industry the cost of an hour worked increased by 4.0 per cent and in construction by 1.8 per cent. The rise in the cost of an hour worked in the business service activities was 2.3 per cent. In the metal industry the cost of an hour worked decreased by 2.4 per cent and in the transportation and storage industry by 2.7 per cent. In the financial and insurance activities the cost of an hour worked increased 1.2 per cent.

Annual changes in labour costs in all industries, manufacturing, construction and services according to Standard Industrial Classification 2008

Code Industry Labour Costs,
Year-on-year change
Labour costs Labour costs,
excluding one-off items
Labour Costs, seasonally adjusted
B-S Total 0,6 1,1 2,1
B-E Industry -0,4 0,8 -0,8
F Construction 1,9 2,4 1,8
G-N Business service sector 1,3 1,3 2,3
J-R State sector 4,0 4,4 ..
D-S Local government sector 2,9 2,7 ..

Source: Wages, Salaries and Labour Costs, Statistics Finland

Inquiries: Pekka Haapala 09 1734 3460, Hanna Jokimäki 09 1734 3667, tvkindeksi@stat.fi

Director in charge: Hannele Orjala

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Revisions in these statistics

Updated 10.12.2013

Referencing instructions:

Official Statistics of Finland (OSF): Labour cost index [e-publication].
ISSN=1798-3746. 3rd quarter 2013. Helsinki: Statistics Finland [referred: 28.3.2024].
Access method: http://www.stat.fi/til/tvki/2013/03/tvki_2013_03_2013-12-10_tie_001_en.html