Iceland is the best, but still not equal

Abstract

While Iceland ranks high internationally on gender equality, it does not follow that equality has been reached. For gender equality, wages as well as possibilities for participating in the labor market should be equal, and men and women should have equal representation in positions of power. I examine where the Icelandic labor market stands on these measures and how they were affected by the crisis in 2008. There are deterrents to equal participation in the labor market, some due to stereotypes. There is a significant gender wage differential, but if effective, the new Gender Pay Standard should aid in reducing the differential. The presence of women in positions of power has improved somewhat since the act on gender quotas on corporate boards was introduced.