Unemployment Rate in Iceland remained unchanged at 5.10 percent in August from 5.10 percent in July of 2021. source: Statistics Iceland

Unemployment Rate in Iceland averaged 2.75 percent from 1970 until 2021, reaching an all time high of 9.90 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 October of 2021.

Unemployment Rate in Iceland is expected to be 5.00 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
2021-06-24 09:00 AM May 5.8% 8.6% 8.3%
2021-08-06 09:00 AM Jun 5.6% 5.7% 6.2%
2021-08-26 09:00 AM Jul 5.2% 5.6% 6%
2021-09-23 09:00 AM Aug 5.1% 5.1% 6%
2021-10-28 09:00 AM Sep 5.1% 5.0%
2021-11-25 09:00 AM Oct
2021-12-22 09:00 AM Nov


News Stream
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 Jobless Rate at Near a Year Low
Iceland’s seasonally adjusted unemployment rate fell to 5.2% in July 2021 compared to 5.6% in the previous month. It was the lowest jobless rate since June last year as the number of unemployed persons declined by 900 to 10,800 and the number of employed went up by 1500 to 197,500. The employment rate edged up by 0.5 percentage points to 74.8% while the labour force participation rate declined by 0.5 percentage points to 78.7%.
2021-08-26
Iceland May Jobless Rate at 8-Month Low
Iceland's seasonally adjusted unemployment rate fell to 5.8 percent in May of 2021 from 8.6 percent in the prior month. It was the lowest jobless rate since last September, as the number of unemployed persons declined by 5,900 to an eight-month low of 11,900 and the number of employed increased by 500 to 190,300. The employment rate edged up by 0.1 percentage points to 72.2 percent while the labor force participation rate declined by 1 percentage point to 77.9 percent.
2021-06-24
Iceland Jobless Rate Climbs to 5-Month High
Iceland's seasonally adjusted unemployment rate rose to 8.6 percent in April of 2021 from 8.3 percent in the previous month. It was the highest jobless rate since last November, amid the ongoing pandemic crisis. The number of unemployed increased by 700 to 17,700 and the number of employed went down by 1,500 to 187,600. The labor force participation rate inched lower by 0.1 percentage point to 78.1 percent and the employment rate edged down by 0.6 percentage points to 71.3 percent.
2021-05-27

Iceland Last Unit Reference Previous Highest Lowest
Unemployment Rate 5.10 percent Aug/21 5.10 9.90 0.10
Employed Persons 198700.00 Aug/21 197500.00 198700.00 136600.00
Unemployed Persons 10700.00 Aug/21 10700.00 18300.00 100.00
Labor Force Participation Rate 79.50 percent Aug/21 78.70 83.50 73.70
Youth Unemployment Rate 10.40 percent Jul/21 10.70 28.50 1.80
Wages 731000.00 ISK/Month Dec/20 695000.00 731000.00 380000.00
Wage Growth 3.40 percent Jul/21 3.40 11.60 -9.40
Employment Rate 75.00 percent Aug/21 74.80 80.60 68.40


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.