The seasonally adjusted unemployment rate in Iceland rose to 4.3 percent in November of 2019 from 3.6 percent in the previous month, as the number of unemployed people increased by 800 to 8,200 while employment fell by 3,900 to 197,900. The activity rate went down to 79.4 percent from 82.0 in October and the employment rate declined to 72.7 percent from 78.3 percent. Unemployment Rate in Iceland averaged 2.46 percent from 1970 until 2019, reaching an all time high of 9.10 percent in April of 2011 and a record low of 0.10 percent in August of 1972.

Unemployment Rate in Iceland is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Iceland to stand at 3.00 in 12 months time. In the long-term, the Iceland Unemployment Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.

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Iceland Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.30 3.60 9.10 0.10 1970 - 2019 percent Monthly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-09-26 09:00 AM Aug 4.4% 3.1% 3.3%
2019-10-24 09:00 AM Sep 3.7% 4.4% 3.1%
2019-11-28 09:00 AM Oct 3.6% 3.7% 3%
2019-12-19 09:00 AM Nov 4.3% 3.6% 3.4%
2020-01-30 09:00 AM Dec 4.3% 3.2%


News Stream
2019-11-28
Iceland Jobless Rate Falls to 3.6%
The seasonally adjusted unemployment rate in Iceland fell to 3.6 percent in October 2019 from 3.7 percent in the previous month. The number of employed people rose by 2,600 to 201,800 while unemployed increased by 300 to 7,400. Meantime, the activity rate went up to 82 percent from 81.5 percent in September and the employment rate advanced to 78.3 percent from 77.6 percent.

2019-10-24
Iceland Jobless Rate Drops in September
The seasonally adjusted unemployment rate in Iceland fell to 3.7 percent in September 2019 from 4.4 percent in the previous month, as the number of unemployed people decreased by 1,400 to 7,100 while employment went up by 2,800 to 207,800. Meanwhile, the activity rate rose to 81.5 percent from 80.0 percent in August and the employment rate advanced to 77.6 percent from 76.9 percent.

2019-09-26
Iceland Jobless Rate Rises to 4.4%
The seasonally adjusted unemployment rate in Iceland rose to 4.4 percent in August 2019 from 3.1 percent in the previous month, as the number of unemployed people increased by 2,000 to 8,500 while employment fell by 5,800 to 195,500. The activity rate went down to 80.0 percent from 81.2 in July and the employment rate declined to 76.9 percent from 78.7 percent.

2019-08-22
Iceland Unemployment Rate Falls to 3.1% in July
The seasonally adjusted unemployment rate in Iceland fell to 3.1 percent in July 2019 from 3.3 percent in the previous month, as the number of unemployed people decreased by 300 to 6,500 while employment rose by 600 to 201,300. The activity rate went down to 81.2 percent from 81.4 in June and the employment rate was unchanged at 78.7 percent.

2019-08-08
Iceland Unemployment Rate Drops to 3.3%
The seasonally adjusted unemployment rate in Iceland fell to 3.3 percent in June 2019 from an upwardly revised 4.8 percent in the previous month, as the number of unemployed people decreased by 3,200 to 6,800 while employment rose by 1,000 to 201,300. The activity rate went up to 81.5 percent from 80.6 in May and the employment rate increased to 78.8 percent from 76.8 percent.

2019-06-27
Iceland Unemployment Rate Highest Since 2014
The seasonally adjusted unemployment rate in Iceland rose to 4.7 percent in May 2019 from an upwardly revised 3.2 percent in the previous month. It was the highest jobless rate since October 2014, as the number of unemployed people increased by 3,300 to 10,000 while employment fell by 2,400 to 200,000. The activity rate went down to 81.1 percent from 82.4 in April while the employment rate decreased to 77.2 percent from 79.8 percent. A year ago, the unemployment rate was lower at 1.6 percent.


Iceland Unemployment Rate
In Iceland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Iceland Labour Last Previous Highest Lowest Unit
Unemployment Rate 4.30 3.60 9.10 0.10 percent [+]
Employed Persons 197900.00 201800.00 203600.00 136600.00 [+]
Unemployed Persons 8200.00 7400.00 16700.00 100.00 [+]
Labor Force Participation Rate 79.40 82.00 84.90 77.70 percent [+]
Long Term Unemployment Rate 0.30 0.50 1.70 0.10 percent [+]
Youth Unemployment Rate 15.40 12.40 21.60 2.60 percent [+]
Job Vacancies 68.00 65.00 1912.00 47.00 [+]
Wages 669000.00 653000.00 669000.00 380000.00 ISK/Month [+]
Wage Growth 1.50 1.30 11.60 -9.40 percent [+]
Population 0.35 0.34 0.35 0.17 Million [+]
Retirement Age Women 67.00 67.00 67.00 67.00 [+]
Retirement Age Men 67.00 67.00 67.00 67.00 [+]
Part Time Employment 38.70 37.00 47.50 28.00 Thousand [+]
Full Time Employment 152.70 156.20 156.20 97.00 Thousand [+]
Employment Rate 77.20 77.60 82.90 73.20 percent [+]