Wages increased by 1.3% from the previous quarter
Wages have increased by 1.3% on average from the previous quarter according to the quarterly wage index in 4th quarter 2014. Annual increase from the 4th quarter 2013 was 6.7% on average, 6.0% in the private sector and 8.4% in the public sector. The annual increase was 6.8% for the central government employees and 10.3% for the local government employees.
Between the years 2013 and 2014 the wages have increased by 6.0% on average. The increase was 5.8% for the private sector, 6.2% for the central government and 6.5% for the local government.
Managers’ wages increase the least between years
From the previous quarter, the largest wage increase was in Wholesale and retail trade where wages increased by 1.7%. During the same period, wages increased the least in Construction or by 0.4%. The annual change of the wage index ranged from 4.6% in Manufacturing to 7.2% in Transport, storage and communication.
Wages for craft workers increased by 0.4% while wages for Service workers and Shop and market sales workers increased by 2.0% between quarters. Annual change ranged from 5.2% for managers to 7.7% for Service workers and Shop and market sales workers.
About the wage index
The wage index is a quarterly index and shows the changes of regular hourly wages. Data for the private sector are published by occupational group and economic activity. Data for the public sector are published by administrative level. Employees in the public sector work for the municipalities and the central government. Other employees belong to the private sector.