Lauri Lyly, SAK: Incomes policy settlement creates more jobs in Finland

The pact for employment and growth agreed by the national labour market confederations of Finland governs the terms of service of 93 per cent of employees in Finland.

Negotiations seeking such a settlement had been conducted between unions and their counterpart employers' federations in each industry since the end of August.

After strongly urging both sides of industry throughout the autumn to back the national accord, SAK President Lauri Lyly expressed his thanks to the trade unions for their work in boosting the confidence of employees in a brighter future.

"It was vital to approve this accord under current conditions where the primary goal is to create more jobs in Finland. A comprehensive agreement will help to improve the situation of jobseekers and enable new government measures, such as a tax reform to boost individual purchasing power. The incomes policy settlement also establishes a firm foundation for pension negotiations."

Although the settlement will remain in force for three years, it includes agreements on wage increases for only two years. The monthly wages and salaries of all employees will rise by €20 during the first year, and by 0.4 per cent in the second year.