Worker mobility and wages in Finland

The article examines worker mobility and wage growth in Finland.

Finland’s labour market is surprisingly dynamic — job turnover has grown since the 2010s, even surpassing the level in the United States. Approximately one fifth of the workforce changes job or employer each year.

A central finding is that the wages of those changing jobs grow faster than those remaining in the same position, and the difference is more pronounced during tight labour market conditions. The Phillips curve holds in the Finnish context, but after 2016 a shift is observed that points to the effect of the competitiveness agreement, particularly among those who remain in the same job. In the state sector, wage changes for those changing roles are particularly high, presumably due to promotions. (AI translation)

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