The unemployment rate in December 2022 was 3.3% according to seasonally adjusted figures from the Icelandic Labour Force Survey. The seasonally adjusted activity rate was 79.8% and the employment rate 77.2%. The seasonally adjusted unemployment rate decreased by 1.6 percentage points between months and the seasonally adjusted employment rate decreased by 0.4 percentage points.
The producer price index for December 2022 increased by 1.1% from the previous month. The production price of marine products increased by 1.6% and the production price of power-intensive industries increased by 1.3%. The food production price increased by 0.1%. Figures have been updated.
The building cost index in January 2023 increases by 1.9% from the previous month. The price of imported materials increased by 0.9% and the price of domestic materials by 1.2%. Labour costs increased by 3.2%. The increase can largely be attributed to collective agreements. Cost of machinery, transport and energy consumption increased by 2.4%. Figures have been updated.
The monthly Wage Index increased by 4% in December 2022 from the previous month. The increase can largely be attributed to collective agreements for a large proportion of the Icelandic private sector. Preliminary figures on wage increase in the private sector, suggest that wages increased by 5.6% in December from previous month. That contributes almost all of the increase of the total wage index in that month.