Iceland's seasonally adjusted unemployment rate rose to 8.3 percent in March of 2021 from 6.4 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 3,900 to 17,000 and the number of employed went down by 700 to 188,900. The labor force participation rate edged down by 1 percentage point to 78.1 percent and the employment rate fell by 0.3 percentage points to 71.8 percent. source: Statistics Iceland
Unemployment Rate in Iceland averaged 2.72 percent from 1970 until 2021, reaching an all time high of 9.80 percent in May of 2010 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 May of 2021.
Unemployment Rate in Iceland is expected to be 9.20 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 7.90 in 12 months time. In the long-term, the Iceland Unemployment Rate is projected to trend around 6.90 percent in 2022 and 5.80 percent in 2023, according to our econometric models.