The seasonally adjusted unemployment rate in Iceland rose to 4.5 percent in August of 2022 from 4.1 percent in the previous month, notching a fourth consecutive increase. The number of unemployed persons increased by 900 to 9,700, signalling a further slowdown in the Icelandic economy and offsetting the increase in employment by 1,100 persons to 206,800. In the meantime, the activity rate rose by 0.6 percentage points to 79.5 percent. source: Statistics Iceland

Unemployment Rate in Iceland averaged 2.77 percent from 1970 until 2022, reaching an all time high of 9.80 percent in September of 2010 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 September of 2022.

Unemployment Rate in Iceland is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Unemployment Rate is projected to trend around 5.60 percent in 2023 and 4.00 percent in 2024, according to our econometric models.

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Iceland Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-25 09:00 AM Jul 4.1% 4% 4%
2022-09-22 09:00 AM Aug 4.5% 4.1% 4.2%
2022-10-28 09:00 AM Sep 4.5% 4.7%


Related Last Previous Unit Reference
Unemployment Rate 4.50 4.10 percent Aug 2022
Unemployed Persons 9700.00 8800.00 Aug 2022
Employed Persons 206800.00 205900.00 Jul 2022
Labor Force Participation Rate 79.30 79.70 percent Jul 2022
Youth Unemployment Rate 3.40 10.30 percent Jul 2022
Wages 770000.00 730000.00 ISK/Month Dec 2021
Wage Growth -0.70 0.90 percent Jun 2022
Employment Rate 76.10 76.50 percent Jul 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.10 9.80 0.10 1970 - 2022 percent Monthly
SA

News Stream
Iceland Jobless Rate Picks at 5-Month High
The seasonally adjusted unemployment rate in Iceland rose to 4.5 percent in August of 2022 from 4.1 percent in the previous month, notching a fourth consecutive increase. The number of unemployed persons increased by 900 to 9,700, signalling a further slowdown in the Icelandic economy and offsetting the increase in employment by 1,100 persons to 206,800. In the meantime, the activity rate rose by 0.6 percentage points to 79.5 percent.
2022-09-22
Iceland Jobless Rate Picks Up to 4-Month High
The seasonally adjusted unemployment rate in Iceland rose to 4.1 percent in July of 2022 from 4 percent in the previous month, the highest since March. The number of unemployed persons increased by 200 to 8,800 and the number of employed rose went up by 900 to 205,900. The employment rate decreased to 76.1 percent from 76.5 percent while the labour force participation rate edged down to 79.3 percent from 79.7 percent.
2022-08-25
Iceland Jobless Rate Rises to 4% in June
Iceland’s seasonally adjusted unemployment rate rose to 4 percent in June of 2022 from 3.5 percent in the previous month. The number of unemployed persons increased by 1,200 to 8,700 and the number of employed decreased by 500 to 209,200. Meanwhile, the employment rate was down by 1.4 points to 76.6 percent while the labour force participation rate decreased by 1.1 point to 79.8 percent.
2022-08-04