Iceland: Labor cost

* indicates monthly or quarterly data series

Labor cost index

 Latest value 144.4
 Reference Q1 2022
 Measure index points
 Data availability Q1 2008 - Q1 2022
 Average 94.79
 Min - Max 57.5 - 144.4
 Source Eurostat
For that indicator, we provide data for Iceland from Q1 2008 to Q1 2022. The average value for Iceland during that period was 94.79 index points with a minimum of 57.5 index points in Q2 2008 and a maximum of 144.4 index points in Q1 2022. Click on the following link to see the values of Labor cost index around the world.
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* indicates monthly or quarterly data series

Recent values chart
Iceland - Labor cost - recent values

Historical chart
Iceland - Labor cost - historical chart - 2008-2022
Measure: index points
Source: Eurostat

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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 value Reference Measure
 Labor force 0.23 2022 million people
 Unemployment rate 3.79 2022 percent
 Female unemployment 3.26 2022 percent
 Male unemployment 4.28 2022 percent
 Youth unemployment 6.55 2023 percent
 Labor force participation 74.39 2023 percent
 Labor force: percent female 46.09 2022 percent
 Female labor force participation 70.07 2023 percent
 Male labor force participation 78.51 2023 percent
 Self-employment 13.67 2022 percent
 Employment 0.22 Q3/2023 million employed people
 Unemployment rate 3.40 9/2023 percent
 Labor cost 134.80 Q3/2021 index points
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