Median monthly earnings of employees in Iceland
Iceland: Median monthly earnings of employees was 4,983 in 2020. ▲ Rising
Median monthly earnings of employees in Iceland, 2004–2020
Source: International Labour Organization.
Analysis
In 2020, median monthly earnings of employees in Iceland stood at 4,983.
Compared with earlier readings it is down 4.0% on the previous year and up 116.8% over ten years.
Over the whole period, median monthly earnings of employees in Iceland peaked at 5,368 in 2018 and was at its lowest, 2,298, in 2010.
That places Iceland 17th out of 49 countries with data for 2020, putting it in the middle of the range.
The long-run direction has been consistently rising across the 17 years of available data.
Median monthly earnings of employees in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2004 | 2,375 | — |
| 2005 | 2,517 | +6.0% |
| 2006 | 3,300 | +31.1% |
| 2007 | 3,699 | +12.1% |
| 2008 | 4,047 | +9.4% |
| 2009 | 2,758 | -31.9% |
| 2010 | 2,298 | -16.7% |
| 2011 | 2,433 | +5.9% |
| 2012 | 2,558 | +5.1% |
| 2013 | 2,422 | -5.3% |
| 2014 | 2,957 | +22.1% |
| 2015 | 2,916 | -1.4% |
| 2016 | 3,673 | +26.0% |
| 2017 | 4,613 | +25.6% |
| 2018 | 5,368 | +16.4% |
| 2019 | 5,189 | -3.3% |
| 2020 | 4,983 | -4.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3,116 | 2,375 | 4,047 | 6 |
| 2010s | 3,443 | 2,298 | 5,368 | 10 |
| 2020s | 4,983 | 4,983 | 4,983 | 1 |
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 median monthly earnings of employees in Iceland?
- Median monthly earnings of employees in Iceland was 4,983 in 2020, according to International Labour Organization.
- What is the highest median monthly earnings of employees recorded in Iceland?
- The highest recorded value was 5,368 in 2018.
- What is the lowest median monthly earnings of employees recorded in Iceland?
- The lowest recorded value was 2,298 in 2010.
- How does Iceland rank for median monthly earnings of employees?
- Iceland ranks 17th out of 49 countries with data for 2020.
- Is median monthly earnings of employees rising or falling in Iceland?
- Over the last ten years it is up 116.8%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from International Labour Organization, published as part of Median monthly earnings of employees. 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. The median is the middle value, with half of employees earning less and half earning more. For more information, refer to the Wages and Working Time Statistics (COND) database description.