Statistics Iceland
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Total wage index by economic activity and sector, quarterly from 2008

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3/7/2025
Index/percent
LAU04109
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The results are preliminary and revised on a quarterly basis. The base year for the index is the average for the year 2020
The Total Wage Index is based on the methodology of the Labour Cost Index according to the Council Regulation no 450/2003. The Total Wage Index is compatible to the wage section of the Labour Cost Index (WAG - wages and salaries) with the exception that the index is based on paid hours, rather than hours worked, and payments for sick hours are here counted as wages rather than labour cost (OTH - labour costs other than wages and salaries) as in the Labour Cost Index.
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. Information on total wages is based on tax related wages from administrative data, Pay as you earn data. Paid hours are estimated with a multimodal statistical evaluation and are among else based on data from Statistics Iceland surveys, particularly the Icelandic Survey on Wages, Earnings and Labour Cost, and also administrative data.

Economic activity/Sector

Economic activities:
The Total Wage Index 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), and Administrative and support service activities (N) . Economic activities; 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), are published as one group (OTS).

Economic activity/Sector

Sector:
Private sector (Alm) and Public sector (Opi). The 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.

Unit

Value of index

Total wages:
Information on total wages is based on tax related wages from administrative data, Pay as you earn data.

Value of index

Paid hours:
Paid hours are all hours such as daytime, shift-work, piece work, paid overtime, sick hours, or hours not worked but nevertheless paid.
Paid hours are estimated with a multimodal statistical evaluation and are among else based on data from Statistics Iceland surveys, particularly the Icelandic Survey on Wages, Earnings and Labour Cost, and also administrative data.