Information

Footnotes

Preliminary numbers

Earnings are monthly earnings in thousand ISK.

Paid hours are weekly hours paid.

Data are based on the Icelandic Survey on Wages, Earnings and Labour Cost which is a sample survey.

Data is based on the following economic acitivities: 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 (G), Transportation and storage (G), Information and communication (J), Financial and insurance activities (K), Public administration and defence; compulsory social security (O), Education (P), and Human health and social work activities (Q). In the economic activity J small enterprises and enterprises in the IT business are missing. Only employees in the public market are covered in the economic activities O, P, Q. In O employees in the public market are about 95% of the population, in P about 90% and 80% in Q. Thus, the weight of employees in the public market in the total is about 50% instead of 35%. Full-time employees are defined as employees whose total working hours are equal or exceed 90% of minimum working hours, e.g. 173.3 for workers.

Earnings and working hours

Regular earnings

Regular earnings is the remuneration for regular working hours, that is ordinary working hours according to collective agreements, both daytime and shift-work hours.

Total regular earnings

Total regular earnings is the total remuneration per month including overtime and sick days.

Total earnings

Total earnings is the total remuneration per month including piecework, irregular bonuses and various other irregular payments.

Hours paid

Hours paid are all working hours for full-time employees, whether being daytime, shift-work or overtime hours.

Unit

Decile share ratio

The decile share ratio is the ratio between the total sum of earnings by employees in the 10th decile divided by the total sum of earnings by employees in the 1st decile.

Quartile share ratio

The quartile share ratio is the ratio between the total sum of earnings by employees in the fourth quartile divided by the total sum of earnings by employees in the first quartile.