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Wages in the private sector increase by 5.7% Featured

According to the wage index, wages in the private sector increased by 5.7% on average between the years 2012 and 2013. During the same period, wages in the private sector increased by 6.1% and wages in the public sector by 4.9%. The wage increase was 5.1% the central government employees and 4.7% for the local government employees.

In the private sector wage changes ranged from 5.3% for Craft workers to 7.5% for Clerks. In the economic activity of Financial inter¬mediation wages rose by 7.1% while the increase of wages was 5.5 % in the economic activity of Manufacturing.

The wage index is a quarterly index and shows the changes of regular hourly wages. Data for the private sector is published by occupational group and economic activity. Data for the public sector is published by administrative level. Employees in the public sector work for the municipalities and the central government. Other employees belong to the private sector.

Source: Statistics Iceland

 

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