Report: Wages in Finland rose by 5% year-on-year in the last quarter

Report: Wages in Finland rose by 5% year-on-year in the last quarter

Wages in Finland were 5.2 per cent higher in October-December 2021 compared to the corresponding period in 2020, according to Statistics Finland on Monday.

The report also revealed that wages grew in the last quarter of last year in all the main sectors of the Finnish economy, services (7.9 per cent), private education (5.4 per cent) and the private health and social care sector (5.3 per cent). see the biggest highs.

The increase was also more modest in trade (4.1 per cent), financial intermediation (4.2 per cent), industry (4.3 per cent) and construction (4.4 per cent).

The report also noted that there was a significant gap between the public and private sectors, with private sector wages rising by an average of 6 per cent year-on-year, compared with only 3.5 per cent in the public sector. equivalents.

The Finnish economy continues to recover from the effects of the Covid pandemic, when OP-Pohjola Group predicted in January that Finland could face the biggest economic boom since the late 1980s.

Other economic indicators, such as consumer confidence and the employment rate, have also risen since the beginning of this year. Inflation in Finland is also accelerating and rose by more than 3 per cent for the first time in almost ten years at the end of last year.

Source: The Nordic Page

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