Labour cost in Iceland in 2012 was considerably lower than in other Western-European countries, according to information from Statistics Iceland, Hagstofa Íslands.
The highest labour cost in 2012 was in Norway, 57.1 Euros per paid hour, and lowest in Bulgaria, where it was 3.4 Euros per paid hour. The hourly labour cost in the European Union was 24.1 Euros on average, compared to Iceland’s 23.2 Euros.
Read more: Iceland moves up one spot in the World Economic Forum's annual rankings
The statistics are based on the results of the 2012 edition of the four-yearly Labour Cost Survey, which provides details on the level and structure of labour cost data, hours worked and hours paid for employees, both full-time and part-time.
However, the figures exclude apprentice and the economic activities of agriculture, forestry and fishing and public administration.
Labour cost in Iceland in 2012 was considerably lower than in other Western-European countries, according to information from Statistics Iceland, Hagstofa Íslands.
The highest labour cost in 2012 was in Norway, 57.1 Euros per paid hour, and lowest in Bulgaria, where it was 3.4 Euros per paid hour. The hourly labour cost in the European Union was 24.1 Euros on average, compared to Iceland’s 23.2 Euros.
Read more: Iceland moves up one spot in the World Economic Forum's annual rankings
The statistics are based on the results of the 2012 edition of the four-yearly Labour Cost Survey, which provides details on the level and structure of labour cost data, hours worked and hours paid for employees, both full-time and part-time.
However, the figures exclude apprentice and the economic activities of agriculture, forestry and fishing and public administration.
