Real incomes of wage
and salary earners have risen steadily
Helsinki (13.07.2010 - Juhani Artto) Even with the largest drop
in GNP (7.8 per cent in 2009) in several decades has not stopped real incomes of wage and
salary earners growing. The last time average real incomes decreased was during the
recession of the early 1990s. In 1992 the average dropped by 0.7 per cent and in 1993 by
1.4 per cent.
Since 1994 average wages and salaries have annually increased at least by 0.6 per cent
from the previous year. The highest jump upwards (3.9 per cent) took place last year, just
in the middle of the bad recession of the national economy. Last year's significant rise
was clearly due to lower inflation which had not been allowed for when the bulk of
collective agreements were signed.
From 1994 to 2009 the average increase of wages and salaries, in real terms, was 2.2 per
cent. Roughly two thirds of this was based on the collective agreement regulations and one
third on locally agreed extra rises.
In 2010 the real value of wages and salaries is set to stagnate. In January-March 2010
there was still an increase of 3.1 per cent.