Helsinki GSE situation room: Largest drop in salary amount in April in Kouvola, Vaasa and Helsinki – salary amount almost unchanged in Jyväskylä
The Helsinki Graduate School of Economics (Helsinki GSE) has established a situation room to support ministries and other public authorities in economic policy-making during the coronavirus crisis.
The Situation Room will publish its seventh report on Thursday 4 June 2020 at 8 am, and a webinar on the topic will also start at this same time in the Zoom app (link below).
This seventh report deals with and illustrates the following:
- According to the Incomes Register, the salary amount in April, minus holiday bonuses, was about 5 % lower than in 2019.
- The salary amount in the first half of May, minus holiday bonuses, was at the 2019 level.
- Among larger cities, the April salary amount reduced the most in Kouvola, Vaasa and Helsinki. The reduction was over 7 % compared to April 2019.
- Åland, Lapland and North Karelia are the provinces where the percentage drop in turnover has been highest compared to the beginning of the year (about 10 %). In terms of euros, the decline has been the greatest in Lapland and Uusimaa.
- Very small companies have suffered the most in proportion. In terms of euros, the biggest decline has been recorded for large companies.
- On average, the impact of the coronavirus crisis on net sales has been approximately only -1 %, but almost 40 % in the hotel and restaurant sector, and in other service sectors, the decline has also been great.
Link to the webinar on Thursday 4 June at 8 am: https://aalto.zoom.us/j/67975406938
The weekly webinars are held in Finnish; they are open to everyone and free of charge.
More information on the Situation Room and its latest public reports can be found on the Helsinki GSE website https://www.helsinkigse.fi/ Opens in new window
Additional information:
Otto Toivanen
Aalto University, Professor
Helsinki GSE, Academic Director
+358 50 353 7651
otto.toivanen@aalto.fi
Helsinki Graduate School of Economics is a joint teaching and research unit in economics of Aalto University, University of Helsinki and Hanken School of Economics.
Information about the previous reports on Hanken's website:
Helsinki GSE's Situation Room starts publishing a weekly report on the effects of coronavirus
Lay-offs and redundancies caused by the corona crisis have hit employees in different ways
The number of layoffs has continued to grow strongly
Compared to last year, over 100,000 people more have applied for unemployment benefit from Kela