Iceland: Labor cost
* indicates monthly or quarterly data series
The most recent value is 144.4 index points as of Q1 2022, an increase compared to the previous value of 139.1 index points. Historically, the average for Iceland from Q1 2008 to Q1 2022 is 94.79 index points. The minimum of 57.5 index points was recorded in Q2 2008, while the maximum of 144.4 index points was reached in Q1 2022.
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* indicates monthly or quarterly data series
- Measure: index points
- Source: Eurostat
| Recent values | Iceland: Labor cost index |
|---|---|
| 2022 Q1 | 144.4 |
| 2021 Q4 | 139.1 |
| 2021 Q3 | 134.8 |
| 2021 Q2 | 137.9 |
| 2021 Q1 | 135 |
| 2020 Q4 | 128.8 |
| 2020 Q3 | 128.6 |
| 2020 Q2 | 127 |
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Definition: The index reflects the level of the total compensation of employees in the economy. Labor costs are defined as core expenditure borne by employers for the purpose of employing staff. They include employee compensation, with wages and salaries in cash and in kind, employers' social security contributions and employment taxes regarded as labor costs minus any subsidies received.
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Labor force | 0.23 | 2023 | million people |
| Unemployment rate | 3.56 | 2023 | percent |
| Female unemployment | 2.38 | 2023 | percent |
| Male unemployment | 3.62 | 2023 | percent |
| Youth unemployment | 6.55 | 2023 | percent |
| Labor force participation | 74.39 | 2023 | percent |
| Labor force: percent female | 45.95 | 2023 | percent |
| Female labor force participation | 70.07 | 2023 | percent |
| Male labor force participation | 78.51 | 2023 | percent |
| Self-employment | 13.67 | 2022 | percent |
| Employment | 0.23 | Q2/2024 | million employed people |
| Unemployment rate | 2.40 | 6/2024 | percent |
| Labor cost | 144.40 | Q1/2022 | index points |