NEWS RELEASE WAGES AND INCOME 05 MARCH 2008

The wage index for the 4th quarter of 2007 is 123.6 points, 1.5% higher than in the previous quarter. The wage index for the private sector has increased by 1.8% during the same period. The quarterly increase of the wage index for the public sector was 0.8%.

The wage index rose by 8.4% from the 4th quarter of 2006. The annual increase of the wage index for the private sector was 9.2% and for the public sector 6.7%.

Wage index in the private sector by occupational group
Wage increases in the private sector ranged from 1.1% for Managers to 2.3% for Professionals, since the previous quarter.  Annual increases ranged from 7.8% for Craft workers to 12.4% for Clerks.

Wage index in the private sector by economic activity
Since the previous quarter, wage increases ranged from 1.2% in the economic activity of Transportation (I) to 2.4% in Financial intermediation (J). The annual increase of the wage index ranged from 6.8% in the economic activity of Manufacturing (D) to 15.1% in Financial intermediation (J).

Wage index for the private and the public sector 2006-2007
Average Total Private sector Public sector
2005=100 Change  Change  Change 
from Change from Change from Change
previous from previous from previous from
Wage quarter, previous Wage quarter, previous Wage quarter, previous
  index % year, % index % year, % index % year, %
2006
1st quarter 106.8 4.2 9.7 106.7 4.1 9.3 107.2 4.5 10.6
2nd quarter 108.7 1.7 9.4 108.2 1.4 8.9 109.8 2.4 10.6
3rd quarter 112.0 3.0 11.0 112.1 3.6 11.4 111.6 1.7 10.1
4th quarter 114.0 1.8 11.2 114.3 1.9 11.5 113.2 1.4 10.3
Average 110.3 . 10.3 110.3 . 10.3 110.4 . 10.4
2007
1st quarter 118.6 4.1 11.0 119.1 4.2 11.7 117.4 3.7 9.5
2nd quarter 120.2 1.4 10.6 120.9 1.5 11.7 118.6 1.1 8.1
3rd quarter 121.8 1.3 8.8 122.6 1.5 9.4 119.9 1.0 7.4
4th quarter 123.6 1.5 8.4 124.8 1.8 9.2 120.8 0.8 6.7
Average 121.0 . 9.7 121.8 . 10.4 119.2 . 7.9

Statistics

Further Information

For further information please contact 528 1100 , email upplysingar@hagstofa.is

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