The seasonally adjusted unemployment rate in Iceland rose to 4.4 percent in August 2019 from 3.1 percent in the previous month, as the number of unemployed people increased by 2,000 to 8,500 while employment fell by 5,800 to 195,500. The activity rate went down to 80.0 percent from 81.2 in July and the employment rate declined to 76.9 percent from 78.7 percent. Unemployment Rate in Iceland averaged 2.46 percent from 1970 until 2019, 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.
Unemployment Rate in Iceland is expected to be 2.10 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 3.20 in 12 months time. In the long-term, the Iceland Unemployment Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.