Wages increased by 0.8% on average between the 4th quarter of 2008 and the 1st quarter of 2009 according to the quarterly wage index. During the same period wages in the private sector increased by 0.3% and by 1.8% in the public sector. Wages increased by 6.2% from the previous year, 4.1% in the private sector and 11.3% in the public sector.
Manager’s wages decreased by 1.4% from previous year
Wages for Clerks increased by 2.4% from the previous quarter, while wages for Managers decreased by 1.7%. From the previous year wages for Managers decreased by 1.4% while wages for General workers increased by 8.8% in the same period.
Wages in Financial intermediation decreased from the previous year
From the previous quarter, wages increased by 1.1% in the economic activity of Manufacturing. Wages in Construction decreased by 1.1% in the same period. From the previous year wages in Manufacturing increased by 6.2%, while wages in Financial intermediation decreased by 0.1%.
(Statistics Iceland release. More details at www.statice.is)
Public sector wages up 11.3% in the past 12 months. Wow…
Everyday we work for less and less…………….
Unless everybody gets a 200% pay increase or the MIGHTY ISK finds its true value 75 isk= 1 Euro.
Nevermind we WILL rise again!
More importantly, public sector wages increased 2.3% in Q1 (i.e. post-kreppa). Mental, especially as they’d increased so much already in the good months before. No wonder the IMF is dragging its heels.
YES, BUT PRICES HAVE INCREASED A 50% AND IN SOME PRODUCTS EVEN A 100%, SO I DON´T SEE HOW A 11% CAN MAKE UP THE DIFFERENCE… EVERYONE IS VERY IMPRESSED ABOUT HOW PRICES ARE ESCALATING IN ICELAND..
Statistics can be made to say whatever you want.
It does not change the end result. This is that the average person in the country cannot afford any luxuries, most can barely afford the basic needs, and a truly unfortunate few cannot even afford that.
Also remember that the one year window they are looking at includes the union pay raise from 2008 in it’s totals. Also all the people that are unemployed now are not considered at zero pay, which seems to me to be a dramatic decrease in salary. Fact is they are just not considered at all.
Let’s look at that 11.3% public sector increase in past year. Seems we have gained many more public sector workers that get a pretty sweet salary, let’s call them bank workers. Last year they were private sector, this year they are public sector. Wonder how much the guy that turns down loans now gets paid? My guess is it is too much.
Statistics are fun and useless. Enjoy the day.
“Public sector wages up 11.3% in the past 12 months. Wow…”
Why Wow ?????
Look:
MAY 2008 – MAY 2009:
- Consumer price index: 11.6%
- Domestic goods excl. agricultural products: 16.2%
- Agricultural products: 9.8%
- Imported goods excl. alcohol and tobacco: 20.5%
- food and beverages: 37.5%
- cars and spare parts: 16.6%
- imported goods excl. food and beverages: 26.3%
- Groceries-perishables: 20.2%
And, JANUARY 2008 – JANUARY 2009:
- Consumer price index: 18.6%
- Domestic goods excl. agricultural products: 22.7%
- Agricultural products: 22.8%
- Imported goods excl. alcohol and tobacco: 30.2%
- food and beverages: 56.1%
- cars and spare parts: 25.8%
- imported goods excl. food and beverages: 33.3%
- Groceries-perishables: 32.1%
150.000kr : 96.65 = Euro 1552 ( January 2008 )
166.950kr : 173.87 = Euro 960 ( May 2009 )
166.950kr : 363.14 = Euro 460 ( real exchange rate, May 2009 )
What is wow ????????
“Everyday we work for less and less…………….
Unless everybody gets a 200% pay increase or the MIGHTY ISK finds its true value 75 isk= 1 Euro.
Nevermind we WILL rise again!”
ISK to 75 ????!!! Yes, dreams are free!
TWO YEARS AGO I WORKED FOR A FRIEND OF MINE IN DENMARK WHO OWNS A COMPANY. HE PAID ME 30.000 DKK FOR ONE MONTH, AND IT WAS LIKE HOLIDAYS… THAT WAS LIKE 300.000 ISK THEN, THIS SUMMER I WILL GO AND WORK FOR HIM THERE, I WILL GET SOMETHING LIKE 30.000 AGAIN AND THAT WILL BE NOW AROUND 700.000 ISK…
IT IS NOT WORTHY TO WORK IN ICELAND ANYMORE, WITH PRICES OVER THE EUROPEAN AVERAGE BUT SALARIES THAT ARE LOWER THE EUROPEAN MEDIA…
AND THEN SOME PEOPLE HAVE CALLED ME PESSIMIST WHEN I HAVE TALKED ABOUT HOW THINGS IN ICELAND ARE…