Average hourly earnings of employees in Iceland
Iceland: Average hourly earnings of employees was 28.04 international-$ in 2021 prices in 2022. ▲ Rising
Average hourly earnings of employees in Iceland, 2014–2022
Source: International Labour Organization (2026) – with major processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
In 2022, average hourly earnings of employees in Iceland stood at 28.04 international-$ in 2021 prices. That is the highest value across all 6 years on record.
The figure is up 9.8% on the previous year and up 52.5% over ten years.
Over the whole period, average hourly earnings of employees in Iceland peaked at 28.04 international-$ in 2021 prices in 2022 and was at its lowest, 18.39 international-$ in 2021 prices, in 2014.
Iceland ranks 4th of 64 countries on this measure, in the top 10%.
Average hourly earnings of employees in Iceland, year by year
| Year | international-$ in 2021 prices | Change |
|---|---|---|
| 2014 | 18.39 international-$ in 2021 prices | — |
| 2015 | 19.42 international-$ in 2021 prices | +5.6% |
| 2016 | 20.2 international-$ in 2021 prices | +4.0% |
| 2017 | 21.78 international-$ in 2021 prices | +7.8% |
| 2021 | 25.54 international-$ in 2021 prices | +17.3% |
| 2022 | 28.04 international-$ in 2021 prices | +9.8% |
Iceland compared with similar countries
- Iceland's 28.04 international-$ in 2021 prices is above the median for high income countries, which is 18.14 international-$ in 2021 prices, 1.5× the median. (21 countries reporting)
- Iceland's 28.04 international-$ in 2021 prices is above the median for Europe & Central Asia, which is 16.04 international-$ in 2021 prices, 1.7× the median. (17 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 19.95 international-$ in 2021 prices | 18.39 international-$ in 2021 prices | 21.78 international-$ in 2021 prices | 4 |
| 2020s | 26.79 international-$ in 2021 prices | 25.54 international-$ in 2021 prices | 28.04 international-$ in 2021 prices | 2 |
Countries ranked near Iceland
- 1 United States 43.49 international-$ in 2021 prices compare
- 2 Switzerland 35.86 international-$ in 2021 prices compare
- 3 Canada 33.04 international-$ in 2021 prices compare
- 5 South Korea 27.58 international-$ in 2021 prices compare
- 6 Finland 26.03 international-$ in 2021 prices compare
- 7 Spain 25.97 international-$ in 2021 prices compare
More reference data data for Iceland
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 0.0288 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 0.0708 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 0.1854 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 0.0001 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 0.1854 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 0.0964 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 0.062 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 0.2576 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 0.7664 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 0.0005 (2050)
Frequently asked questions
- What is average hourly earnings of employees in Iceland?
- Average hourly earnings of employees in Iceland was 28.04 international-$ in 2021 prices in 2022, according to International Labour Organization (2026) – with major processing by Our World in Data.
- What is the highest average hourly earnings of employees recorded in Iceland?
- The highest recorded value was 28.04 international-$ in 2021 prices in 2022.
- What is the lowest average hourly earnings of employees recorded in Iceland?
- The lowest recorded value was 18.39 international-$ in 2021 prices in 2014.
- How does Iceland rank for average hourly earnings of employees?
- Iceland ranks 4th out of 64 countries with data for 2022.
- Is average hourly earnings of employees rising or falling in Iceland?
- Over the last ten years it is up 52.5%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from International Labour Organization (2026) – with major processing by Our World in Data, published as part of Average hourly earnings of employees. Statizoid updates them automatically from the source API.
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About this data
Gross remuneration for time worked or work done, vacation, and other types of paid leave.