Wednesday - 21 July 2010
Monthly wage index in June 2010
The wage index is 2.2% higher than in the previous month.
The wage index in June 2010 is 378.3 points, 2.2% higher than in the previous month. In the last twelve months the monthly wage index has risen by 6.1%.
|Wage Index 2009-2010|
|December 1988=100||Change from previous month, %||Annual rate based on the change in the last|
|Index||3 months, %||6 months, %||12 months, %|
|Wage index is calculated and published according to law no 89/1989. The wage index is based on average hours earnings each month, calculated and published in the month following calculation.|
Real wages increased by 2.6% from the previous month
The real wage index in June 2010 is 106.6 points, 2.6% higher than in the previous month. In the last twelve months the real wage index has increased by 0.3%.
According to an agreement between the Confederation of Icelandic Employers and the Icelandic Confederation of Labour (on behalf of its member unions) signed 25 June 2009, wages increased by 6,500 ISK or by minimum 2.5% 1 June 2010.
An agreement between the Confederation of Icelandic Employers and the Confederation of Icelandic Bank and Finance Employees stipulated an increase in general wages by a fixed amount from 1 June 2010. According to the agreement wages increased by 14.000 ISK, or by minimum 2.5%.
According to an agreement between the Association of Local Authorities and the Federation of State and Municipal Employees (on behalf of 33 member unions), and the Icelandic Confederation of Labour (on behalf of its member unions) signed 8 July 2009, minimum wages increased by 6,500 ISK from 1 June 2010. Corresponding agreements were made between the Minister of Finance, on behalf of the State Treasury and the Federation of General and Special Workers (on behalf of its member unions) and the Federation of State and Municipal Employees.