A long-term collective agreement valid for four years was signed between a broad coalition of trade unions, the Federation of General and Special Workers (SGS), Efling and Samiðn and the Icelandic Confederation of Labour (ASÍ). The collective agreement aims to lower inflation, reduce interest rates, and ensure stability. The agreement includes significant wage increases, a premium for shift workers, and a government-supported ISK 50 billion (€ 336 million) financial package to aid its implementation. The agreement covers tens of thousands in the labour market and is effective from 1 February 2024 to 31 January 2028. The agreement aims for wage increases in several stages, raising wages by a minimum of ISK 23,750 (€ 160). The increase is retroactive from 1 February 2024 by 3.25%. At the start of next year, wages will increase by 3.5% and then again by 3.5% on 1 January 2026, and 2027.
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For more information, please contact Paul de Beer or Oana Ciuca, De Burcht (Scientific Bureau for the Dutch Trade Union Movement) p.t.debeer@uva.nl or the Head of communications at the ETUI, Mehmet Koksal mkoksal@etui.org. For previous full issues of the Collective bargaining newsletter please visit https://www.etui.org/Newsletters/Collective-bargaining-newsletter or consult the archive with all articles in our database at www.cbnarchive.eu.
You may find further information on the ETUI at www.etui.org.