Hourly labour cost in Iceland
Hourly labour costs in Iceland averaged €59.3 per hour in 2025. The value for 2025 is the highest in the series, which starts in 2008.
The latest value carries the source flag “Provisional”.
Iceland, 2025
€59.3p (Provisional)
Change from 2024
+11.5%
European Union, 2025
€34.9 per hour
Median of OECD (38 countries), 2025
€32.0 per hour
Hourly labour cost in Iceland over time
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Iceland
European Union
×
The chart loads when you scroll to it. The table below shows the same data.
The chart shows a calculation from the published values. The table below keeps the published values.
Euro per hour worked. Source: Eurostat. Gaps mean no published value; points are not joined across missing years.
| Period | Iceland | European Union |
|---|---|---|
| 2025 | €59.3 per hourp (provisional) | €34.9 per hour |
| 2024 | €53.2 per hourp (provisional) | €33.5 per hour |
| 2023 | €49.7 per hourp (provisional) | €31.9 per hour |
| 2022 | €48.2 per hourp (provisional) | €30.2 per hour |
| 2021 | €42.6 per hourp (provisional) | €28.8 per hour |
| 2020 | €37.8 per hourd (definition differs (see metadata)) | €28.4 per hour |
| 2016 | €36.2 per hourd (definition differs (see metadata)) | €25.6 per hour |
| 2012 | €23.2 per hourd (definition differs (see metadata)) | €24.4 per hour |
| 2008 | €21.9 per hourd (definition differs (see metadata)) | €21.6 per hour |
Flags: d definition differs (see metadata); p provisional . A dash means no value was published.
In short
- That is a change of +11.5% from €53.2 per hour in 2024.
- Since 2008, when it was €21.9 per hour, the figure has changed by +170.8%.
- The figure for the European Union in 2025 was €34.9 per hour.