The purchasing power of the average Icelandic resident increased in June for the first time since significantly before the banking collapse in autumn 2008. Read the full story

Around 100 police officers gathered to protest outside the Icelandic parliament today to draw attention to the fact that their collective wage contract ran out a year ago. Read the full story

The Danish Confederation of Trade Unions (LO) has unexpectedly reduced its demands for wage increases for privately employed members. Read the full story

(Updated 13.15) Neither the Althingi parliament, the Icelandic government nor public regulators have any say in the wages paid to the old banks’ termination board or resolution committee members. Read the full story

Sigurdur Einarsson, the former chairman of the board at Old Kaupthing has put in a claim for lost wages to the bank’s resolution committee amounting to ISK 244 million (USD 1.9 million). No claim has been received from former bank president Hreidar Mar Sugurdsson, however. Read the full story

New income tax increases proposed by Finnish Prime Minister Matti Vanhanen could result in those who earn over EUR 47,000 a year facing significant rate raises. Read the full story

Iceland’s wage index for the month of July stood at 350.0 points, according to Statistics Iceland, which is 0.4 percent higher than in June and 2.6 percent up on twelve months ago. Read the full story

450 employees of the Icelandic state earn more than a million kronur per month (USD 7,785) according to figures revealed in RUV news. Read the full story

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. Read the full story

Statistics Iceland reports that the monthly wage index in January 2009 increased by 0.6 percent to 355.7 points. That figure is around 7.5 percent over the previous 12 months.

The January increase means that ‘real wages’ stayed the same in that month, but have fallen 9.4 percent in the last year as a whole. Real wages are an assessment of spending power where the effect of inflation is subtracted from the numerical significance of wage increases. Read the full story