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- In terms of employment, about 78% of people aged 15 to 64 in Iceland have a paid job, above the OECD employment average of 66%. Some 80% of men are in paid work, compared with 75% of women.
www.oecdbetterlifeindex.org/countries/iceland/
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Apr 7, 2022 · On average, 12,500 people were unemployed and looking for work in the year 2021 or 6.0% of the labour force compared with 2020 when the unemployed were 13,000 on average or 6.4% of the labour force. In the year 2021, the unemployment rate was on average 6.4% for women and 5.6% for men.
Jul 5, 2024 · The monthly number of unemployed people in Iceland increased greatly from March to April in 2020 following the outbreak of COVID-19, but remaine relatively stable since may 2021.
- Salary in Iceland
- Income Tax in Iceland
- Gender Pay Gap in Iceland
- The Unemployment Rate in Iceland
- The Cost of Living in Iceland
- Housing Cost
- Cost of Public Transport in Iceland
- Price of Alcohol in Iceland
- Cost of Food in Iceland
- Does It Cost A Lot to Eat Out in Iceland?
According to Icelandic government statisticsas of July 2020, the average salary in Iceland is 573,000 ISK, about € 3,500 (USD 4.136) at current exchange rates. The mode salary is 473,000 ISK or € 2,900; both figures are net. These current values represent an increase of 0.9% compared to the previous year. There is no official minimum wage in this...
Even though the salaries mentioned above are net and taxes were discounted, we also consider it essential to know the tax rates that apply to these earnings. The monthly income taxes for salaries below ISK 893,713 (€ 5,489 or USD 6484) are 36.94%, and it raises to 46.24% if earnings are above that income threshold. The profits can come only from th...
Although Iceland has a population of around 337,000 people, it has been the world’s benchmark for gender equalityfor almost a decade. In January 2018, Iceland made it illegal for women to earn less than men if they both work in the same job, position, and have the same responsibilities. Wages in Iceland are paid according to efficiency, performance...
The current unemployment rate in Iceland is around 3.55%; this rate is slightly higher in men (3.7) than in women (3.3). The unemployment rate for those over 25 years of age is 9.2% for men and 5.9% for women. The industries that generate the most employment for the Icelandic economy are the fishing, tourism, manufacturing, aluminum, and services i...
When comparing salaries, we should not only pay attention to how high or low it is. Some several circumstances and variables can tell us if the wage earned is indeed in line with the daily life cost of the country. We have said it more than once in this blog, Iceland is not a cheap country. Any tourist who has stepped on this land knows it. And no,...
As in any country, the price of a house varies according to the location, type of house, size, year of construction, etc. the Renting average cost is usually around € 300 or USD 350 if it is a shared rental. If it is the entire apartment, then it can be around € 700-2100 / USD 825 – 2480 per month. If instead of renting, you prefer to buy a house, ...
The price for a one-way ticket is 400 ISK for adults. About $ 2.80 In the case of taxis, they are quite expensive. A trip can range from $11 to € 35, especially if the service is requested in the city and at night.
In the case of alcoholic beverages, taxes are proportional to the alcohol content of the drink. So you can get a rough idea, summing up taxes, recycling fees, and other charges, these can represent 80-90% of the cost of the drink. So, if you come to Iceland on a budget and go out to party, you better opt for juice. For instance, a bottle of Beefeat...
Like many things in Iceland, food is not cheap, as many daily products must be imported. The monthly expense can be around $300-550; it all depends on your consumption habits and, of course, the supermarket of your preference. In a supermarketlike Krónan, which is a low cost one, we have the following prices: Orange juice 500ml: € 1.22 Pack of six ...
Here the prices can vary greatly depending on what is consumed and where. Eating in restaurantsand in Reykjavik will always be more expensive. A menu in a good restaurant can cost over $120 without adding beverages. In less fancy places, the main dish can cost around $40 and the cheaper options, which are usually a fast-food type, about $ 23. If it...
Jul 4, 2024 · Managers was the occupational group with the highest average earnings in 2022, with men earning around 1.3 million Icelandic krona per month, compared to women's 1.1 million. Elementary...
Mar 2, 2023 · On average, there were 227,600 people in the Icelandic labour market in the year 2022. Of those, around 209,400 were employed and around 8,100 unemployed and looking for a job. The activity rate was 80.1%, the employment rate 77.1% and the unemployment rate 3.7%.
In terms of employment, about 78% of people aged 15 to 64 in Iceland have a paid job, above the OECD employment average of 66%. Some 80% of men are in paid work, compared with 75% of women.
The labor force participation rates of people aged 55–74 is high in Iceland, over 65%, on average : almost 60% among women and over 70% among men. One of the characteristics of Iceland's flexible labor market is the large fluctuations in real wages, which often exceed fluctuations in economic growth.
