The seasonally adjusted unemployment rate in Iceland rose to 7.1 percent in November of 2020 from an upwardly revised 6.8 percent in the previous month. It was the highest jobless rate since March 2012, as the coronavirus pandemic hit the labour market. The number of unemployed rose by 1,000 to 14,900 while employment dropped by 2,600 to 190,100. Meantime, the activity rate went up to 79.7 percent from 79 percent in October and the employment rate declined to 74.3 percent from 74.5 percent. source: Statistics Iceland
Unemployment Rate in Iceland averaged 2.52 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 January of 2021.
Unemployment Rate in Iceland is expected to be 8.30 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.