Monthly wage index in private sector by occupational group 2015-2018 - base December 2014
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Information

Unit
Index
Latest update
3/22/2019
Source
Statistics Iceland
Matrix
VIS04043
Footnotes

Footnotes

Calculation on base December 2014 discontinued. Time series continued on base December 2018.
The wage index is based on hourly regular earnings each month and indexes for sub-groups are calculated and published about 90 days after the reference month.
Regular earnings are the remuneration for regular working hours that is ordinary working hours according to collective agreements, both daytime and shift-work hours.
From 2018 sectors are based on the ESA 2010 classification of National Accounts. The public sector only consists of the General Government (S.13). Others belong to the private sector.
Until 2017 the public sector consisted of those getting remunerated by the municipalities or by the Central Government Accounting Office. There are only small differences between those two definitions.
The wage index in the private sector is based on companies operating in the following industries: Manufacturing (C), Electricity and steam supply (D), Water supply and waste management (E), Construction (F), Wholesale and retail trade (G), Transportation and storage (H), Information and communication (J, only divisions 58-61, Information Technology, divisions 62-63 are missing), Financial and insurance activities (K), and in the year 2018 engineering activities (M, only division 71) was added.
The total Wage index is calculated and published about 20 days after the reference month and can be found in the statistical database in Wage index from 1989.
Base December 2014=100.
All calculations are based on full number of digits. Rounding of numbers can lead to inconsistency in published data.
Occupational group
Occupations are one-digit Ístarf 95 classification of occupations. Ístarf 95 classification is based on the international standard classification of occupations, ISCO-88. Occupational groups are one-digit Ístarf 95 classification of occupations with two exceptions. The occupational group Craft workers is defined as having first-digit 7, 8 or 9 in Ístarf95 and the definition skilled workers. The occupational group General machine and specialized workers is defined as having first-digit 7, 8 or 9 in Ístarf95 and the definition unskilled workers.