Statistics Iceland has released a new issue of the Statistical Series within the category of Wages, income, and labour market. The issue, Wage Index 2007, presents the results of the wage index in 2007. 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 10.4% on average between the years 2006 and 2007. Wage increases ranged from 8.7% for Craft workers to 12.7% for Clerks. In the economic activity of Financial intermediation (J) wages rose by 14.8% while the increase of wages was 8.9% in the economic activity of Manufacturing (D). Wages in the public sector increased by 7.9% during the same period.

Wage Index 2007 - Statistical Series