Wage rigidity in Finland leads to limited real wage adjustments
The article looks at how wages in Finland have changed over time. Wages have become more unequal within and between companies. Real wages have stayed rigid, meaning they don't adjust easily, especially after the financial crisis. When companies need to cut costs, they usually do it by reducing jobs rather than lowering wages. And when jobs are cut, wages don't drop as quickly as they go up when jobs are added.