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Figure 1. Average annual income of employees at Alcoa Fjarðaál and Landsvirkjun compared to national average (millions ISK) (Statistics Iceland).

 

Updated: May 14, 2020
Source:
Alcoa Fjarðaál, Landsvirkjun og Hagstofa Íslands.

Metrics, Targets and Monitoring Protocol

Metrics

Average salary for Alcoa and Landsvirkjun employees compared with other sources of employment in East Iceland and nationally. (Project effect: induced).

Targets

Equal to or greater than average income in other sources of employment in East Iceland.

Monitoring Protocol

The human resource division of Landsvirkjun and the financial department of Fjarðaál provide this information.

Possible countermeasures

Not applicable, monitoring only.

Changes of indicator

This indicator was originally number 6.1b. It was then named Income levels and can be found under that number in documents of the project from 2005 and 2006.

The indicator number has been changed twice.

Table 1. Changes to name and number of indicator
Year Nr. Indicator name
2020 4.3.3 Employee income
2007 1.14b Income Levels

Baseline

Table 2. Average annual income of employees at Alcoa Fjarðaál and Landsvirkjun compared to national average (millions ISK) in 2007.
Iceland Alcoa Fjarðaál Fljótsdalsstöð
5,1 5,9 7,3

Rationale for Indicator Selection

Average income level is a useful indicator of an area's comparative financial welfare and prosperity. The development of the Kárahnjúkar and Fjarðaál projects is likely to have an impact on per capita income levels for the area. The development will provide direct income effects to employees and their families as well as supporting indirect income effects through firms supplying goods and services and the additional employees in the region.

From phase I/II report on indicators and baseline from April 2005