The seasonally adjusted unemployment rate in Iceland increased to 3.1 percent in October of 2018 from an upwardly revised 1.8 percent in September. It was the highest jobless rate since July, as the number of unemployed went up by 2,800 to 6,400 and employment decreased by 1,000 to 200,400. The number of people in the labour force rose by 1,800 to 206,800 and the activity rate went up to 81.9 percent from 81.6 percent in the previous month. Meantime, the employment rate fell to 79.4 percent from 80.2 percent. A year ago, the unemployment rate was higher at 3.7 percent. Unemployment Rate in Iceland averaged 2.45 percent from 1970 until 2018, reaching an all time high of 8.90 percent in November of 2010 and a record low of 0.10 percent in August of 1972.

Unemployment Rate in Iceland is expected to be 3.50 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 2.70 in 12 months time. In the long-term, the Iceland Unemployment Rate is projected to trend around 3.40 percent in 2020, according to our econometric models.

Iceland Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-23 09:00 AM Unemployment Rate 3.7% 3.5% 2.8%
2018-09-27 09:00 AM Unemployment Rate 2.7% 3.7% 3.6%
2018-10-25 09:00 AM Unemployment Rate 1.7% 2.6% 3.8%
2018-11-22 09:00 AM Unemployment Rate 3.1% 1.8% 2.2%
2019-01-03 09:00 AM Unemployment Rate
2019-01-25 09:00 AM Unemployment Rate 3.5%
2019-02-22 09:00 AM Unemployment Rate


Iceland Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.10 1.80 8.90 0.10 percent [+]
Employed Persons 200400.00 201400.00 201400.00 136600.00 [+]
Unemployed Persons 6400.00 3600.00 16200.00 100.00 [+]
Labor Force Participation Rate 81.90 81.60 85.60 77.50 percent [+]
Long Term Unemployment Rate 0.30 0.50 1.70 0.10 percent [+]
Youth Unemployment Rate 8.40 4.00 21.20 3.10 percent [+]
Job Vacancies 133.00 159.00 1912.00 71.00 [+]
Wages 615000.00 555000.00 615000.00 380000.00 ISK/Month [+]
Wage Growth 3.20 3.00 11.60 -9.40 percent [+]
Population 0.35 0.34 0.35 0.17 Million [+]
Retirement Age Women 67.00 67.00 67.00 67.00 [+]
Retirement Age Men 67.00 67.00 67.00 67.00 [+]
Part Time Employment 36.60 44.10 47.50 28.00 Thousand [+]
Full Time Employment 150.00 139.40 150.00 97.00 Thousand [+]
Employment Rate 79.40 80.20 84.20 72.90 percent [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 1.80 8.90 0.10 1970 - 2018 percent Monthly
SA




Country Last Previous
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.70 Oct/18
Turkey 11.10 Aug/18
Italy 10.60 Oct/18
Argentina 9.60 Jun/18
France 9.10 Sep/18
Euro Area 8.10 Oct/18
Saudi Arabia 6.00 Jun/18
Canada 5.60 Nov/18
Indonesia 5.34 Sep/18
Australia 5.00 Oct/18
Russia 4.70 Oct/18
United Kingdom 4.10 Oct/18
China 3.82 Sep/18
South Korea 3.80 Nov/18
Netherlands 3.70 Oct/18
United States 3.70 Nov/18
India 3.52 Dec/17
Germany 3.30 Oct/18
Mexico 3.20 Oct/18
Switzerland 2.50 Nov/18
Japan 2.40 Oct/18
Singapore 2.10 Sep/18


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