Between 2020 and 2021, the average monthly salary in Norway rose by 4.2 percent, almost double the amount wages grew by a year prior, a report from Statistics Norway has revealed.
The stats firm said that the monthly average salary in Norway was 50,790 kroner as of November 2021.
“Wage growth in 2021 was 2.0 percentage points higher than the lower wage increases seen in 2020. It was also higher than the wage growth in 2019, which was the highest in many years,” Håkon Grini, senior adviser at Statistics Norway, said in a report on wage growth.
Grini said there were two major contributors to wage growth over the past year. Firstly, was a record number of job vacancies in 2021, meaning employers will have offered higher pay packets to lure employees.
Secondly were, wage settlements being delayed in 2020. Wage settlements, which determine minimum salaries for many industries in Norway, are negotiated by unions in the first half of the year.
In 2020, these were delayed due to the pandemic.
“Due to the lockdown in 2020, many wage settlements were postponed. This means that some of the wage growth that would have been expected to happen in 2020 didn’t happen until the following year,” Grini explained.
When taking the delayed wage settlements into account, salary growth in 2021 wasn’t too different to wage rises seen in other recent years.
Bonuses in private-sector jobs grew by 17.1 percent per month last year. The reason for this sharp increase was that many bonuses were withheld in 2020.