Finnish Industrial Union settles for 8% pay rise over three years

The Boards of the Finnish Industrial Union and Technology Industry Employers of Finland on Saturday showed a green light to the pay agreement their negotiators had accepted on Thursday.

The agreement guarantees employees a pay rise of 2.5 per cent in 2025, 2.9 per cent in 2026 and 2.4 per cent in 2027, equivalent to a pay rise of eight per cent over the three-year agreement term due to the compound interest effect. The third year, though, can be terminated by the contract parties.

An employee currently earning 3,300 euros a month will thus see their earnings rise to 3,383 euros in 2025, to 3,481 euros in 2026 and to 3,564 euros in 2027.

The agreement signals an important breakthrough in what had been a deadlocked labour market situation not only because if directly applies to roughly 90,000 employees in a key export industry, but also because it has an indirect impact on most wage earners in the country. The tradition has been that other industries take their cues from the agreement thrashed out in the technology industry.
more at: https://www.helsinkitimes.fi/finland/finland-news/domestic/26190-finnish-industrial-union-settles-for-8-pay-rise-over-three-years.html#google_vignette

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