The seasonally adjusted unemployment rate in Iceland surged to 5.3 percent in April of 2020 from 3.3 percent in the previous month. It was the highest jobless rate since May of 2014, amid the effects of lockdown measures to curb the coronavirus pandemic. The number of unemployed rose by 5,400 to 11,300 while employment fell by 19,000 to 183, 200. The activity rate went down to 75.4 percent from 79 percent in March and the employment rate decreased to 70.2 percent from 76.9 percent.

Unemployment Rate in Iceland averaged 2.48 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 June of 2020.

Unemployment Rate in Iceland is expected to be 6.70 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 8.60 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
5.30 3.30 9.10 0.10 1970 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-02-27 09:00 AM Jan 3.4% 3.9% 3.8%
2020-03-26 09:00 AM Feb 5% 3.4% 3.4%
2020-04-30 09:00 AM Mar 3.3% 5% 5.5%
2020-05-28 09:00 AM Apr 5.3% 3.3% 5.5%
2020-06-25 09:00 AM May 5.3%
2020-07-30 09:00 AM Jun 6.7%
2020-08-27 09:00 AM Jul
2020-09-24 09:00 AM Aug


News Stream
Iceland April Jobless Rate at Near 6-Year High of 5.3%
The seasonally adjusted unemployment rate in Iceland surged to 5.3 percent in April of 2020 from 3.3 percent in the previous month. It was the highest jobless rate since May of 2014, amid the effects of lockdown measures to curb the coronavirus pandemic. The number of unemployed rose by 5,400 to 11,300 while employment fell by 19,000 to 183, 200. The activity rate went down to 75.4 percent from 79 percent in March and the employment rate decreased to 70.2 percent from 76.9 percent.
2020-05-28
Iceland Jobless Rate Falls to 9-Month Low of 3.3%
The seasonally adjusted unemployment rate in Iceland dropped to 3.3 percent in March 2020 from 5 percent in the previous month. It was the lowest jobless rate since June last year, as the number of unemployed fell by 4,400 to 5,900 while employment rose by 2,600 to 202,200. The activity rate went down to 79 from 80.4 in February and the employment rate declined to 76.9 percent from 77.5 percent.
2020-04-30
Iceland Jobless Rate Falls to 3.4% in January
The seasonally adjusted unemployment rate in Iceland fell to 3.4 percent in January 2020 from 3.9 percent in the previous month, as the number of unemployed decreased by 300 to 7,000 while employment increased by 500 to 202,700. The activity rate went up to 81 percent from 80.7 percent in December and the employment rate rose to 78 percent from 77.6 percent.
2020-02-27
Iceland Jobless Rate Falls to 3.9% in December
The seasonally adjusted unemployment rate in Iceland declined to 3.9 percent in December of 2019 from a downwardly revised 4.1 percent in the previous month, as the number of unemployed people rose by 200 to 7,300 while employment increased by 4,000 to 202,200. The activity rate increased to 80.7 percent from 80.5 in November and the employment rate went up to 77.6 percent from 77.4 percent.
2020-01-30

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.