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10214
Increase in compensation of employees
statistikk
2007-11-22T10:00:00.000Z
National accounts and business cycles
en
knri, National accounts, non-financial sector accounts, households, non-profit organisations, disposable income, disposable real income, saving rate, income, expenditures, savings, FISIM, net financial investments, dividendsNational accounts , National accounts and business cycles
false

National accounts, non-financial sector accounts, Q3 2007

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Increase in compensation of employees

The disposable income of households and non-profit institutions serving households rose by 2.6 per cent from the third quarter of 2006 to the third quarter of 2007. Compensation of employees and property income received excluding dividends increased considerably, while pensions and benefits received from general government showed a slight increase.

Q1 2002- Q3 2007, Disposable Income, Households and NPISHs

Q1 2002 - Q3 2007 - Savings ratio, Households and NPISHs

The increase in compensation of employees in the household sector rose by 8.7 per cent. The number of employed was 90 000 higher in the third quarter of 2007 than in the third quarter of 2006. In addition, property income received showed a 40 per cent increase due to an increase in deposits and higher interest rates.

Pensions and benefits from general government constitutes one third of household disposable income and rose by 4.6 per cent from the third quarter of 2006.

Income developments are strongly influenced by the volatility of dividend income in recent years. Dividend income figures have been volatile due to changes in tax regulations. According to preliminary figures from Statistics Norway’s stock statistics, Norwegian households and non-profit institutions serving households received NOK 7.6 billion in dividends in 2006, while this figure was around NOK 100 billion in 2005. The new information on dividend payouts is now integrated in the calculations of annual sector accounts in November. Preliminary dividend estimates for 2007 are based on the 2006 figures and should be considered as uncertain.

Negative saving ratio in the second quarter

Household consumption of goods increased considerably both in the second and the third quarter, and the consumption of goods was higher than the disposable income. This means that the saving ratio for households and non-profit institutions has been negative for the last two quarters. The savings in the third quarter was NOK -12.6 billion.

Revisions

Quarterly institutional sector accounts are based on preliminary calculations. The uncertainty is greater in the last quarter of the year. New information is continuously integrated in the figures.

New information from the quarterly national accounts and annual accounts has resulted in the revision of figures. The saving ratio for the first and second quarter of 2007 and the annual figures for 2005 and 2006 have been revised.

 

For revisions in the annual figures, see: http://www.ssb.no/english/subjects/09/01/nri_en/

Disposable income for households and NPISHs. Current prices. NOK million
 
  2005 2006 2. quarter 2005 3. quarter 2005 4. quarter 2005 1. quarter 2006 2. quarter 2006 3. quarter 2006 4. quarter 2006 1. quarter 2007 2. quarter 2007 3. quarter 2007
 
Disposable income  903 882  858 666  239 376  218 346  232 923  210 507  209 453  217 402  221 305  221 081  218 321  223 314
Disposable income excluding dividends  804 084  851 028  199 457  203 376  207 974  208 980  206 398  216 257  219 395  219 095  214 348  221 825
 

Tables

Published tables