Average hourly earnings of employees in Iceland
Iceland: Average hourly earnings of employees was 4,230 in 2022. ◆ Volatile
Average hourly earnings of employees in Iceland, 2014–2022
Source: International Labour Organization.
Analysis
Iceland recorded 4,230 for average hourly earnings of employees in 2022. That is the highest value across all 9 years on record.
The figure is up 6.3% on the previous year and up 53.3% over ten years.
Over the whole period, average hourly earnings of employees in Iceland peaked at 4,230 in 2022 and was at its lowest, 21.75, in 2018.
Iceland ranks 10th of 73 countries on this measure, in the top quarter.
Average hourly earnings of employees in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2014 | 2,760 | — |
| 2015 | 3,010 | +9.1% |
| 2016 | 3,230 | +7.3% |
| 2017 | 3,430 | +6.2% |
| 2018 | 21.75 | -99.4% |
| 2019 | 22.73 | +4.5% |
| 2020 | 25.24 | +11.1% |
| 2021 | 3,980 | +15669.2% |
| 2022 | 4,230 | +6.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 2,079 | 21.75 | 3,430 | 6 |
| 2020s | 2,745 | 25.24 | 4,230 | 3 |
Countries ranked near Iceland
More work & labour data for Iceland
- Population - Est. & Proj. — Total Population - Both sexes, annual -0.4964 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Male, annual growth -0.4501 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Female, annual growth -0.5492 % change on previous year (2100)
- Population - Est. & Proj. — Rural population, annual growth rate -1.37 % change on previous year (2050)
- Population - Est. & Proj. — Urban population, annual growth rate 0.2312 % change on previous year (2050)
- Population - Est. & Proj. — Urban population 373.77 1000 No (2050)
- Population - Est. & Proj. — Rural population 16.3 1000 No (2050)
- Population - Est. & Proj. — Total Population - Female 169.5 1000 No (2100)
- Population - Est. & Proj. — Total Population - Male 193.08 1000 No (2100)
- Population - Est. & Proj. — Total Population - Both sexes 362.58 1000 No (2100)
Frequently asked questions
- What is average hourly earnings of employees in Iceland?
- Average hourly earnings of employees in Iceland was 4,230 in 2022, according to International Labour Organization.
- What is the highest average hourly earnings of employees recorded in Iceland?
- The highest recorded value was 4,230 in 2022.
- What is the lowest average hourly earnings of employees recorded in Iceland?
- The lowest recorded value was 21.75 in 2018.
- How does Iceland rank for average hourly earnings of employees?
- Iceland ranks 10th out of 73 countries with data for 2022.
- Is average hourly earnings of employees rising or falling in Iceland?
- Over the last ten years it is up 53.3%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from International Labour Organization, published as part of Average hourly earnings of employees (Local currency). Statizoid updates them automatically from the source API.
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About this data
With the aim of promoting international comparability, statistics presented on ILOSTAT are based on standard international definitions wherever feasible and may differ from official national figures. The earnings of employees relate to the gross remuneration in cash and in kind paid to employees, as a rule at regular intervals, for time worked or work done together with remuneration for time not worked, such as annual vacation, other type of paid leave or holidays. Earnings exclude employers' contributions in respect of their employees paid to social security and pension schemes and also the benefits received by employees under these schemes. Earnings also exclude severance and termination pay. Data are converted to U.S. dollars as the common currency, using exchange rates or using purchasing power parity (PPP) rates for private consumption expenditures. The latter series allows for international comparisons by taking account of the differences in relative prices between countries. For more information, refer to the Wages and Working Time Statistics (COND) database description.