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.