News
Tuesday - 8 December 2009
No. 201/2009
Wage index in 3rd quarter 2009
Wages increased by 0.7% from the previous quarter
Wages increased by 0.7% on average between the 2nd and the 3rd quarter of 2009 according to the quarterly wage index. During the same period wages in the private sector increased by 0.8%, while wages in the public sector increased by 0.4%. Wages increased by 2.1% from the previous year, 0.8% in the private sector and 4.9% in the public sector.
General worker’s wages increased by 1.6% from previous year
Wages for General workers increased by 1.6% from the previous quarter, while wages for Managers increased by 0.1%. From the previous year wages for Managers decreased by 4.1% while wages for General workers increased by 4.3% in the same period.
Wages in Construction decreased from the previous quarter
From the previous quarter, wages increased by 1.9% in the economic activity of Transportation. Wages in Construction decreased by 0.4% in the same period. From the previous year wages in Manufacturing increased by 3.6%, while wages in Construction decreased by 1.3%.
| Change in the wage index for the private and the public sector 2006-2009 | ||||||
| Total | Private sector | Public sector | ||||
| Change | Change | Change | ||||
| from | Change | from | Change | from | Change | |
| previous | from | previous | from | previous | from | |
| quarter, | previous | quarter, | previous | quarter, | previous | |
| % | year, % | % | year, % | % | year, % | |
| 2006 | ||||||
| 1st quarter | 4.2 | 9.7 | 4.1 | 9.3 | 4.5 | 10.6 |
| 2nd quarter | 1.7 | 9.4 | 1.4 | 8.9 | 2.4 | 10.6 |
| 3rd quarter | 3.0 | 11.0 | 3.6 | 11.4 | 1.7 | 10.1 |
| 4th quarter | 1.8 | 11.2 | 1.9 | 11.5 | 1.4 | 10.3 |
| Average | . | 10.3 | . | 10.3 | . | 10.4 |
| 2007 | ||||||
| 1st quarter | 4.1 | 11.0 | 4.2 | 11.7 | 3.7 | 9.5 |
| 2nd quarter | 1.4 | 10.6 | 1.5 | 11.7 | 1.1 | 8.1 |
| 3rd quarter | 1.3 | 8.8 | 1.5 | 9.4 | 1.0 | 7.4 |
| 4th quarter | 1.5 | 8.4 | 1.8 | 9.2 | 0.8 | 6.7 |
| Average | . | 9.7 | . | 10.4 | . | 7.9 |
| 2008 | ||||||
| 1st quarter | 2.8 | 7.1 | 2.6 | 7.5 | 3.1 | 6.1 |
| 2nd quarter | 2.6 | 8.5 | 3.1 | 9.2 | 1.6 | 6.7 |
| 3rd quarter | 2.2 | 9.4 | 1.1 | 8.9 | 4.8 | 10.7 |
| 4th quarter | 0.4 | 8.3 | -0.5 | 6.4 | 2.7 | 12.7 |
| Average | . | 8.3 | . | 8.0 | . | 9.0 |
| 2009 | ||||||
| 1st quarter | 0.8 | 6.2 | 0.3 | 4.1 | 1.8 | 11.3 |
| 2nd quarter | 0.2 | 3.6 | 0.2 | 1.2 | 0.0 | 9.5 |
| 3rd quarter | 0.7 | 2.1 | 0.8 | 0.8 | 0.4 | 4.9 |
Collective agreements
According to an agreement between the main signatories wage increases that were supposed to come into effect 1 March 2009 came partly into effect in 3rd quarter. According to the agreement wages increased by 6,750 ISK 1 July 2009 and further increases came into effect 1 November 2009.
The wage index in 3rd quarter also reflects the effects of a decision of the Senior Civil Servant Salary Board No. 2009.4.004 from 17 July 2009. The decision stipulates a decrease in wages of directors in Government offices in Iceland by 5-8% from 1 August 2009.