Rapid growth of wages and salaries and labour costs continued

Compared to the 1st quarter of 2007, the average monthly gross wages and salaries increased the most in fishing; health and social work and mining and quarrying economic activities (42.2%, 34.4% and 29.3%, respectively). The average monthly gross wages and salaries increased the least in transport, storage and communication; real estate, renting and business activities and in manufacturing (10.7%, 15.7% and 16.3%, respectively).

Compared to the 1st quarter of 2007, the average hourly gross wages and salaries increased the most in fishing; health and social work and in hotels and restaurants (43.1%, 36.9% and 24.5%, respectively). The average hourly gross wages and salaries increased the least in financial intermediation; transport, storage and communication and in manufacturing (9.0%, 11.2% and 17.8%, respectively).

The average gross wages and salaries were 11,867 kroons in January, 12,669 kroons in February and 12,469 kroons in March.

In short term statistics the average gross wages and salaries are measured as a component of labour costs. Labour costs include gross wages and salaries, employer’s social contributions and employer’s imputed social contributions to employees.

In the 1st quarter of 2008 the employer’s average monthly labour costs per employee were 16,576 croons and the average hourly labour costs were 107.82 kroons. Compared to the 1st quarter of 2007, the average monthly labour costs per employee increased 19.6% and the hourly labour costs increased 20.8%.

Compared to the 1st quarter of 2007, the average monthly labour costs per employee increased the most in fishing (42.5%), and the least in transport, storage and communication (10.0%).

Compared to the 1st quarter of 2007, the average hourly labour costs increased the most in fishing (40.6%) and the least in transport, storage and communication (12.6%).

Average monthly gross wages and salaries, 1st quarter 2004 – 1st quarter 2008 (kroons)

Average monthly gross wages and salaries and monthly labour costs per employee, 1st quarter 2008

Average hourly gross wages and salaries and hourly labour costs, 1st quarter 2008

^a The average monthly gross wages and salaries have been given in full time units to enable a comparison of different wages and salaries, irrespective of the length of working time. Calculations of the monthly gross wages and salaries are based on payments for actually worked time and remuneration for time not worked. The hourly gross wages and salaries do not include remuneration for time not worked (holiday leave pay, benefits, etc.).