Just fewer than eight percent of Icelanders had income under minimum wages in 2014 according to new social science according to the Ministry of Welfare and Statistic Iceland. The amount of people measured with income lower than the minimum wages was comparatively low in 2004 when it was ten percent and in 2012 it was seven point nine percent.
Women with income lower than minimum wages were proportionally fewer than men in 2014 or seven point seven percent and eight point one percent of men. Distribution of income according to the so-called Gini ratio was more even in 2014 than it has been since observations began twelve years ago. The most uneven income between gender according to Gini ratio was in 2009
Minimum wages in Iceland are negotiated in different collectively negotiated agreements and applied automatically to all employees within those occupations or professions they are relative therefore and ways to calculate them can be found with Statistics Iceland (Hagstofa Íslands) The wage index in January 2016 is 545.0 points. In the last twelve months the monthly wage index has risen by 9.4%.