Statistics Iceland has released a new issue of the Statistical Series within the category of Wages, income, and labour market. The issue, The Labour Cost Index 1998-2006, presents the results of the Labour Cost Index for the first time in Iceland. The Labour Cost Index shows the change of total labour costs per working hour.

Total labour costs per working hour have doubled from the 1st quarter 1998 to the 3rd quarter 2006 according to the Labour Cost Index. The increase of other labour costs than wages and salaries was higher than the increase of wages due to rise in pay roll taxes and pension fund contributions.

The Labour Cost Index 1998-2006 – Statistical Series