The method by which agreement is reached on wages in the Member States participating in EMU has a particular significance for employment and growth. Optimal wage formation defines the development of competitiveness.
The pace of labour productivity growth in Finland has faded. This is attributable to lacklustre productivity development in manufacturing as well as the increasing dominance of services in the economy.
Finland’s economic growth will be slower during the next three years. Growth has also slowed in the euro area and elsewhere around the world. However, there are still possibilities for growth in the Finnish economy.