The seasonally adjusted unemployment rate in Iceland fell to 6 percent in August of 2020 from 6.4 percent in the previous month. Still, the jobless rate remains among one of the highest since 2014, as the coronavirus pandemic hit the labour market. The number of unemployed declined by 200 to 12,400 while employment rose by 1,200 to 196,000. The activity rate went up to 80.8 percent from 79.9 percent in July and the employment rate increased to 76.3 percent from 75.7 percent.

Unemployment Rate in Iceland averaged 2.49 percent from 1970 until 2020, 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. This page provides the latest reported value for - Iceland Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Iceland Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

Unemployment Rate in Iceland is expected to be 7.90 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 8.20 in 12 months time. In the long-term, the Iceland Unemployment Rate is projected to trend around 7.00 percent in 2021 and 6.00 percent in 2022, according to our econometric models.

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Iceland Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
6.00 6.40 9.10 0.10 1970 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-25 09:00 AM May 5.9% 5.3% 6.2%
2020-07-30 09:00 AM Jun 4.1% 5.9% 6.7%
2020-08-27 09:00 AM Jul 6.4% 4.1% 4.3%
2020-09-24 09:00 AM Aug 6% 6.4% 6.5%
2020-10-29 09:00 AM Sep 6% 7.9%
2020-11-26 09:00 AM Oct
2020-12-22 09:00 AM Nov


News Stream
Iceland Jobless Rate Falls to 6% in August
The seasonally adjusted unemployment rate in Iceland fell to 6 percent in August of 2020 from 6.4 percent in the previous month. Still, the jobless rate remains among one of the highest since 2014, as the coronavirus pandemic hit the labour market. The number of unemployed declined by 200 to 12,400 while employment rose by 1,200 to 196,000. The activity rate went up to 80.8 percent from 79.9 percent in July and the employment rate increased to 76.3 percent from 75.7 percent.
2020-09-24
Iceland Jobless Rate Highest Since 2014
The seasonally adjusted unemployment rate in Iceland soared to 6.4 percent in July of 2020 from 4.1 percent in the previous month. It was the highest jobless rate since January of 2014, amid the coronavirus pandemic. The number of unemployed rose by 4,300 to 12,600 and employment decreased by 3,100 to 194,800. The activity rate went down to 79.9 percent from 80.1 in June and the employment rate advanced to 75.7 percent from 75.5 percent.
2020-08-27
Iceland Jobless Rate Falls from Over 6-Year High
The seasonally adjusted unemployment rate in Iceland fell to 4.1 percent in June 2020 from an over six-year high of 5.9 percent in the previous month, amid the coronavirus pandemic. The number of unemployed declined by 6,000 to 8,300 while employment increased by 7,400 to 197,900. The activity rate went up to 80.1 percent from 79.5 percent in May and the employment rate advanced to 75.5 percent from 72.8 percent.
2020-07-30
Iceland Jobless Rate Rises to Near 6-Year High in May
The seasonally adjusted unemployment rate in Iceland rose to 5.9% in May 2020 from 5.3 percent in the previous month. It was the highest jobless rate since March 2014, amid the coronavirus crisis. The number of unemployed increased by 3,000 to 14,300 while employment went up by 7,300 to 190,500. The activity rate advanced to 79.5 percent from 75.4 percent in April and the employment rate rose to 72.8 percent from 70.2 percent.
2020-06-25

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.