Iceland's seasonally adjusted unemployment rate rose to 5.8 percent in October of 2021 from 3.5 percent in the prior month. It was the highest jobless rate since April 2021, as the number of unemployed persons increased by 4,900 to a six-month high of 12,200 and the number of employed decreased by 200 to 200,900. The employment rate edged down by 0.2 percentage points to 75.5 percent while the labor force participation rate inched down by 0.1 percentage points to 79.2 percent. source: Statistics Iceland

Unemployment Rate in Iceland averaged 2.76 percent from 1970 until 2021, reaching an all time high of 9.70 percent in June of 2009 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 November of 2021.

Unemployment Rate in Iceland is expected to be 4.80 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 3.50 percent in 2022 and 2.50 percent in 2023, according to our econometric models.

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Iceland Unemployment Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-28 09:00 AM Sep 3.5% 5.0% 5.0%
2021-11-25 09:00 AM Oct 5.8% 3.5% 3.5%
2021-12-22 09:00 AM Nov 5.8%


Related Last Previous Unit Reference
Unemployment Rate 5.80 3.50 percent Oct/21
Employed Persons 200900.00 201100.00 Oct/21
Unemployed Persons 12200.00 7300.00 Oct/21
Labor Force Participation Rate 79.20 79.30 percent Oct/21
Youth Unemployment Rate 7.00 3.70 percent Sep/21
Wages 731000.00 695000.00 ISK/Month Dec/20
Wage Growth 3.30 3.40 percent Sep/21
Employment Rate 75.50 75.70 percent Oct/21

News Stream
Iceland Jobless Rate at 6-Month High
Iceland's seasonally adjusted unemployment rate rose to 5.8 percent in October of 2021 from 3.5 percent in the prior month. It was the highest jobless rate since April 2021, as the number of unemployed persons increased by 4,900 to a six-month high of 12,200 and the number of employed decreased by 200 to 200,900. The employment rate edged down by 0.2 percentage points to 75.5 percent while the labor force participation rate inched down by 0.1 percentage points to 79.2 percent.
2021-11-25
Iceland Jobless Rate Falls to 18-Month Low
Iceland's seasonally adjusted unemployment rate fell to 3.5 percent in September of 2021 from a downwardly revised 5.0 percent in the prior month. It was the lowest jobless rate since March 2020, as the number of unemployed persons declined by 3,300 to an eighteen-month low of 7,300 and the number of employed increased by 1,500 to a record 200,900. The employment rate edged up by 0.3 percentage points to 75.6 percent while the labor force participation rate inched up by 0.2 percentage points to 79.5 percent.
2021-10-28
Iceland Jobless Rate Steady at 1-Year Low
Iceland’s seasonally adjusted unemployment rate was 5.1 percent in August 2021, unchanged from the previous period. It remained at the lowest jobless rate since June 2020 as the number of unemployed persons kept steady at 10,700, and the number of employed persons went up by 1200 to 198,700, and the labour force participation rate increased by 0.8 percentage points to 79.5 percent. Still, the employment rate edged up by 0.2 percentage points to 75 percent.
2021-09-23

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.