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.

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Iceland Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.30 6.40 9.80 0.10 1970 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-28 09:00 AM Dec 6% 7.3% 7.4%
2021-02-25 09:00 AM Jan 8.2% 7.4% 6.5%
2021-03-25 09:00 AM Feb 6.4% 8.2% 8.6%
2021-04-28 09:00 AM Mar 8.3% 6.4% 7%
2021-05-27 09:00 AM Apr 8.3%
2021-06-24 09:00 AM May
2021-08-06 09:00 AM Jun
2021-08-26 09:00 AM Jul


News Stream
Iceland Jobless Rate at 4-Month High
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.
2021-04-28
Iceland Jobless Rate at 5-Month Low
Iceland's seasonally adjusted unemployment rate retreated to 6.4 percent in February 2021, from 8.2 percent in the previous month, the lowest jobless rate since September 2020. The number of unemployed decreased by 3,500 to 13,100 and the number of employed was up by 1,400 to 190,200. The labor force participation rate went up 1.5 percentage points to 78.2 percent and the employment rate rose by 0.5 percentage points to 72.4 percent.
2021-03-25
Iceland Jobless Rate Rises to 8.2% in January
Iceland's seasonally adjusted unemployment rate rose to 8.2 percent in January 2021, up from 7.4 percent in the previous month, as the number of unemployed increased by 1,500 to 16,600 and the number of employed was up by 1,300 to 187,700. The labor force participation rate declined by 1.4 percentage points to 76.7 percent and the employment rate rose by 0.4 percentage points to 71.5 percent.
2021-02-25
Iceland Unemployment at 3-Month Low
The seasonally adjusted unemployment rate in Iceland fell to 6 percent in December of 2020 from an upwardly revised 7.3 percent in the previous month. It was the lowest jobless rate since September, as the country recovered from the pandemic. The number of unemployed decreased by 2,700 to 12,400 while employment grew by 5,500 to 197,200. Meantime, the activity rate went up to 79.7 percent from 79.4 percent in November and the employment rate declined to 75.6 percent from 73.8 percent.
2021-01-28

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.