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Hourly labour cost from 2008

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5/3/2024
ISK/Share of
2008-
Statistics Iceland
VIN02100
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The results are preliminary and revised on a quarterly basis. The results are part of a development project which Statistics Iceland has been working on where calculations are based on exploitation of varied data sets. In essence results from surveys are used to estimate figures for the population with consideration of register data. Labour cost refers to the sum of all paid wages and cost paid by employers related to employment of staff. Information on wages is gathered from pay-as-you-go tax collection data but hours worked and non-wage cost are produced with an ensemble of statistical estimation methods based on Statistics Iceland‘s data, most notably the Icelandic Survey on Wages, Earnings and Labour Cost and pay-as-you-go tax collection according to register data. Hourly labour cost is based on the Labour Cost Survey (LCS) which is published every four years and is intended to be a timely indicatior of labour cost in the years the survey is not published. Figures on labour cost and its composition in Iceland are comparable to figures on labour cost in other European countries. Information on labour cost in European countries can be found on Eurostat‘s website, see link:
https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Hourly_labour_costs

Economic activity

Total

Hourly labour cost composes all those who receive wages and salaries from employers who have 10 or more employees, except those who fall within the economic activities of Agriculture and fishing (A), Activities of households as employers (T) and Activities of extra-territorial organisations and bodies (U). These economic activities are included: Manufacturing (C), Electricity, gas, steam and air conditioning supply (D), Water supply; sewerage, waste management and remediation activities (E), Construction (F), Wholesale and retail trade; repair of motor vehicles and motorcycles (G), Transportation and storage (H), Accommodation and food service activities (I), Information and communication (J), Financial and insurance activities (K), Real estate activities (L), Professional, scientific and technical activities (M), Administrative and support service activities (N), Public administration, defense, compulsory social security (O), Education (P), Human health and social work activities (Q), Arts, entertainment and recreation (R), and Other service activities (S).