Statistics Iceland has released a new issue of the Statistical Series within the category of Wages, income and labour market. The issue; Earnings in the private sector 2007, is based on the Icelandic survey on wages, earnings and labour costs for the economic activities of Manufacturing, Construction, Wholesale and retail trade; repair, Transport, storage and communications and Financial intermediation. Results are calculated for main economic activities, occupations and sex.

In the year 2007 employees’ average monthly regular salaries were 303 thou¬sand ISK and 330 thousand ISK for full-time employees. Total regular salaries for full time employees in the private sector were 368 thousand ISK and aver¬age total salaries 424 thousand ISK. Paid weekly hours were 44.8 on average.

Managers had the highest earnings in 2007. Managers’ monthly regular salaries were 638 thousand ISK and total salaries were 826 thousand ISK on average. General, machine and specialized workers had the lowest earnings in 2007, regular salaries of 209 thousand ISK and total salaries of 316 thousand ISK on average. Earnings were highest in the economic activity of Financial intermediation, regular salaries were 425 thousand ISK on average and total salaries were 610 thousand ISK. Regular salaries were lowest in the economic activity of Construction, 298 thousand ISK. Total salaries were lowest in the economic activity of Wholesale and retail trade or 365 thousand ISK on average.

Earnings in the private sector 2007 - Statistical Series