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.