Iceland’s seasonally adjusted unemployment rate rose to 3.5 percent in May of 2022 from 2.5 percent in the previous month. The number of unemployed persons increased by 2,300 to 7,600 and the number of employed rose by 3,600 to 209,500. Meanwhile, the employment rate was up by 0.4 points to 78 percent while the labour force participation rate increased by 1.3 points to 80.8 percent. source: Statistics Iceland

Unemployment Rate in Iceland averaged 2.76 percent from 1970 until 2022, reaching an all time high of 9.80 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 July of 2022.

Unemployment Rate in Iceland is expected to be 4.20 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 2.50 percent in 2023, according to our econometric models.

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Iceland Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-25 09:00 AM Apr 2.5% 4.5% 4.6%
2022-06-23 09:00 AM May 3.5% 2.5% 2.8%
2022-08-04 09:00 AM Jun 3.5%


Related Last Previous Unit Reference
Unemployment Rate 3.50 2.50 percent May 2022
Employed Persons 209500.00 205900.00 May 2022
Unemployed Persons 7600.00 5300.00 May 2022
Labor Force Participation Rate 80.80 79.50 percent May 2022
Youth Unemployment Rate 9.70 10.70 percent Jan 2022
Wages 731000.00 695000.00 ISK/Month Dec 2020
Wage Growth 1.50 2.00 percent Jan 2022
Employment Rate 78.00 77.60 percent May 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
3.50 2.50 9.80 0.10 1970 - 2022 percent Monthly
SA

News Stream
Iceland Jobless Rate Rises to 3.5% in May
Iceland’s seasonally adjusted unemployment rate rose to 3.5 percent in May of 2022 from 2.5 percent in the previous month. The number of unemployed persons increased by 2,300 to 7,600 and the number of employed rose by 3,600 to 209,500. Meanwhile, the employment rate was up by 0.4 points to 78 percent while the labour force participation rate increased by 1.3 points to 80.8 percent.
2022-06-23
Iceland Jobless Rate at Over 3-Year Low
Iceland’s seasonally adjusted unemployment rate fell to 2.5 percent in April of 2022 from a downwardly revised 4.5 percent in the previous month. It was the lowest jobless rate since December of 2018 as the number of unemployed persons decreased by 4300 to 5,400 and the number of employed increased by 3500 to 207,500. Meanwhile, the employment rate inched down by 0.1 percent points to 76.3 percent while the labour force participation rate fell by 1.7 percent points to 78.3.
2022-05-25
Iceland Jobless Rate Rises to 4.5% in February
Iceland’s seasonally adjusted unemployment rate rose to 4.5 percent in February of 2022 from 3.3 percent in the previous month. The number of unemployed persons increased by 2700 to 9800 while the number of employed rose by a lesser 1000 to 209,900. The employment rate rose by 0.9 percent points to 78.4 percent while the labour force participation rate edged up by 0.9 percent points to 78.4.
2022-03-24