The wage index is 0.8% higher than in the previous month
The wage index in September 2011 is 412.8 points, 0.8% higher than in the previous month. In the last twelve months the monthly wage index has risen by 8.4%.
| Wage Index 2010-2011 | |||||
| December 1988=100 | Change from previous month, % | Annual rate based on the change in the last | |||
| Index | 3 months, % | 6 months, % | 12 months, % | ||
| 2010 | |||||
| September | 380.7 | 0.3 | 2.6 | 6.4 | 6.0 |
| October | 381,8 | 0.3 | 2.4 | 6.8 | 6.0 |
| November | 382.4 | 0.2 | 3.1 | 6.8 | 4.7 |
| December | 383.1 | 0.2 | 2.5 | 2.6 | 4.5 |
| 2011 | |||||
| January | 383.2 | 0.0 | 1.5 | 2.0 | 4.4 |
| February | 383.9 | 0.2 | 1.6 | 2.3 | 4.2 |
| March | 385.2 | 0.3 | 2.2 | 2.4 | 4.4 |
| April | 385.6 | 0.1 | 2.5 | 2.0 | 4.4 |
| May | 389.9 | 1.1 | 6.4 | 4.0 | 5.3 |
| June | 405.0 | 3.9 | 22.2 | 11.8 | 7.1 |
| July | 409.1 | 1.0 | 26.7 | 14.0 | 7.8 |
| August | 409.7 | 0.1 | 21.9 | 13.9 | 8.0 |
| September | 412.8 | 0.8 | 7.9 | 14.8 | 8.4 |
| Wage index is calculated and published according to law no 89/1989. The wage index is based on regular hours earnings each month, calculated and published in the month following calculation. | |||||
Real wages increased by 2.6% from previous year
The real wage index in September is 110.5 points, and has increased by 0.1% from previous month. In the last twelve months the real wage index has increased by 2.6%.
Collective agreements
Recent collective agreements in the Icelandic labour market affect the wage index in September.
Collective agreements between some public sector unions and the Association of Local Authorities and the Minister of Finance, on behalf of the State Treasury, stipulate a general wage rise and a lump sum payment of 50,000 ISK.
Statistics