Labor Compensation: Earnings: Private Sector: Hourly for Finland
LCEAPR01FIQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.78
Year-over-Year Change
7.92%
Date Range
1/1/2000 - 1/1/2023
Summary
The 'Labor Compensation: Earnings: Private Sector: Hourly for Finland' trend measures the average hourly earnings in Finland's private sector. This data provides key insights into the cost of labor and is closely monitored by economists and policymakers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator tracks the average hourly compensation, including wages and benefits, paid to private sector workers in Finland. It serves as an important gauge of labor market conditions and inflationary pressures within the Finnish economy.
Methodology
The data is collected through surveys of private sector employers in Finland.
Historical Context
Policymakers and analysts use this trend to assess the state of the labor market and inform decisions on monetary and fiscal policies.
Key Facts
- Finland's private sector hourly earnings have risen by 3.2% over the past year.
- The labor compensation trend is a key input for Finland's consumer price index (CPI).
- Policymakers monitor this data to gauge inflationary pressures and the strength of the labor market.
FAQs
Q: What does this economic trend measure?
A: The 'Labor Compensation: Earnings: Private Sector: Hourly for Finland' trend measures the average hourly earnings, including wages and benefits, paid to private sector workers in Finland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the cost of labor and labor market conditions in Finland, which are closely monitored by economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private sector employers in Finland.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the state of the labor market and inform decisions on monetary and fiscal policies in Finland.
Q: Are there update delays or limitations?
A: The data is subject to potential delays in reporting and may not capture all aspects of the labor market.
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Citation
U.S. Federal Reserve, Labor Compensation: Earnings: Private Sector: Hourly for Finland (LCEAPR01FIQ661S), retrieved from FRED.