Statistics Iceland has released a new issue of the Statistical Series within the category of Wages, income, and labour market. The issue, Wage Index 2008, presents the results of the wage index in 2008. The wage index is a quarterly index and shows the changes of regular hourly wages in the private sector by occupational group and economic activity. An aggregate index is also published for the public sector.

Wages in the private sector increased by 8.0% on average between the years 2007 and 2008. Wage increases ranged from 6.1% for Managers to 9.7% for General workers. In the economic activity of Construction the wages rose by 9.8% while the increase of wages was 7.5% in the economic activity of Manufacturing. Wages in the public sector increased by 9.0% during the same period

Wage Index 2008 – Statistical Series