Unemployment rate 5.8%
The number of persons in the labour force in the 1st quarter of 2014 was 181,900 which corresponds to an activity rate of 79.4%. The number of employed persons was 171,400 and unemployed persons were 10,500. The employment rate was 74.8% and the unemployment rate was 5.8%. From the 1st quarter of 2013 the number of employed persons has increased by 3,500 and the number of unemployed persons has increased by 200. The unemployment rate among females was 5% and 6.5% among males. The average number of working hours of those who were working in the reference week was 38.9 hours, 44.5 hours for those in full-time employment and 22 hours for those in part-time employment.
Long-term unemployment
For the last seven quarters the number of long term unemployed has slowly decreased. Those who have been unemployed for 12 months or more in 1st quarter of 2014 were 1,700 or 0.9% of the labour force. In the 1st quarter of 2013 long term unemployment persons were 2,600 or 1.4% of the labour force.
Persons are classified as unemployed who have no employment, are actively seeking a job and can start working within two weeks or have found a job which starts within 3 months. Students who are not employed and fulfil this criteria are considered unemployed. People are classified as working (employed) if they worked one hour or more in the reference week or were absent from work they usually carry out.
| Labour market in 1st quarter | |||||
| 2011 | 2012 | 2013 | 2014 | ||
| 1st Q | 1st Q | 1st Q | 1st Q | Conf.Int. ± | |
| Activity rate | 79.2 | 79.0 | 78.9 | 79.4 | 1.3 |
| Employment rate | 73.0 | 73.3 | 74.3 | 74.8 | 1.4 |
| Unemployment rate | 7.8 | 7.2 | 5.8 | 5.8 | 0.9 |
| Labour force, est. number | 175,900 | 175,800 | 178,300 | 181,900 | 2,900 |
| Employed, est. number | 162,200 | 163,200 | 167,900 | 171,400 | 3,200 |
| Unemployed, est. number | 13,700 | 12,600 | 10,300 | 10,500 | 1,700 |
| Employed full time, est. number | 118,500 | 119,600 | 123,900 | 127,300 | 2,700 |
| Employed part time, est. number | 43,700 | 43,700 | 44,100 | 44,100 | 2,700 |
| Working hours | 39.5 | 39.9 | 38.2 | 38.9 | 0.6 |
| Working hours full time | 45.5 | 46.2 | 44.0 | 44.5 | 0.7 |
| Working hours part time | 22.3 | 22.1 | 21.3 | 22.0 | 1.0 |
| Inactive, est. number | 46,200 | 46,900 | 47,700 | 47,200 | 2,900 |
| Population , est. number | 222,200 | 222,700 | 226,000 | 229,100 | • |
| Figures may not add up because of rounding. | |||||
Implementation of the Labour Force Survey
Since 2003 Statistics Iceland has conducted a continuous labour force survey with quarterly results. The 1st quarter of 2014 covers 13 weeks, from 30th of December 2013 to 30th of March 2014. The total sample size was 3,925 persons aged 16–74 years old selected randomly from the National registry. When those who had passed away or those who were living abroad had been deducted from the sample the net sample was 3,893 persons. In total the number of usable answers was 3,057 which correspond to 79.6% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±1.3%, employment rate is ±1.4% and unemployment rate is ±0.9%.
Labour market statistics, 1st quarter 2014 - Statistical Series
Statistics