REYKJAVIK, Dec. 12 (Xinhua) -- Iceland saw an increase of the average wage in the third quarter 2014 by 1.4 percent compared with the previous quarter, according to figures issued by the Statistics Iceland on Friday.
The statistics showed the largest wage increase was in transport, storage and communication industries where wages increased by 1.7 percent from the previous quarter.
While wages in manufacturing increased the least, by 0.1 percent. The annual change of the wage index ranged from 4.3 percent in Manufacturing to 7.9 percent in construction.
The average wage in the third quarter 2014 increased by 6.3 percent in total when compared with the same period in 2013, including 5.9 percent in the private sector and 7.6 percent in the public sector. The annual increase was 6.8 percent for central government employees and 8.4 percent for local government employees.
Collective agreements in the Icelandic labor market affect the wage index in the third quarter of 2014. Teachers and some state workers member unions signed new wage agreements with the minister of finance and the municipalities earlier this year.
