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Iceland - LABOUR MARKET


Labour market indicators


Unemployment rate in 2001 : 2.3% (ILO data)


Working population:

Year Total Population Working population Activity rate
2004
290 000  
165 770  
57%  
Source: World Bank


Employment by sector:

Year
Agriculture
Industry
Services
2002  
7.2%  
22.9%  
69%  
Sources: ILO, Eurostat, last available data


Employment contracts



Salaries


National monthly minimum wage as of 01/01/2003 : No minimum wage is mandated by law, but the minimum wages negotiated in various collective bargaining agreements applied automatically to all employees in those occupations

Average wage for a employee in the manufacturing industry in 2001 : 140,7 kronur by  month (ILO data)



Number of hours



Legal definition of full time work (per week): 40 hours



Useful links


For further informations on the labour market, check out the following web sites:

- International Labour Organization (ILO): studies, statistics and reports on working conditions and labour markets

- NATLEX : ILO database on national labour laws

- Ministry of Social Affairs

- Confederation of Icelandic Employers (CIE)


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Last modified in January 2006
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