• Statistical Series
• 17. December 2014
• Vol 99, Issue 43
• ISSN: 1670-4509



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This issue presents results from the Labour Cost in Iceland for the year 2012. In the year 2012 wages and salaries accounted for 79.8% of the total labour cost. Non-wage labour cost was therefore 20.2%. The largest component in non-wage labour cost was employers’ mandatory contribution to pension and private pension savings, 9.6% of total labour cost. The composition of labour costs in Iceland changed between the years 2012 and 2008 as the proportion of non-wage costs of labour costs has grown more than the proportion of wages and salaries.