Tuesday - 8 December 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|
|%||year, %||%||year, %||%||year, %|
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.