Wage development and hours worked among employees in the private sector

Private-sector wages, employment, and labour market conditions in Finland strengthened markedly after 2015 following a prolonged period of weak performance. Growing labour demand increased both hours worked and wages, and earnings growth was particularly strong among workers who changed employers.

The labour market proved to be highly dynamic, with substantial worker mobility and active job creation and turnover. At the same time, corporate profitability remained strong, as real unit labour costs did not rise excessively and profits increased.

Based on these developments, the article concludes that the conditions for continued strong employment growth in the business sector were favourable at the time of the analysis. (AI translation)

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