Statistics Iceland has released the 4th quarter 2006 of the Labour cost index and revised results for the 3rd quarter 2006.
The results for the 4th quarter 2006 show a 8.0% rise of total labour costs in Manufacturing (D), 8.4% in Construction (F), 9.0% in Wholesale and retail trade; repair (G) and a 9.3% rise in Transport, storage and communication (I) compared to the previous quarter. Total labour cost excluding bonuses increased 3.5% in Manufacturing (D), 6.4% in Construction (F), 4.1% in Wholesale and retail trade; repair (G) and 2.3% in Transport, storage and communication (I) from the previous quarter.
The annual average of total labour costs for the years 2005 and 2006 increased by 8.3% in Manufacturing (D), 8.5% in Construction (F), 4.7% in Wholesale and retail trade; repair (G) and 6.5% in Transport, storage and communication (I).