According to the Icelandic Labour Force Survey the number of persons in the labour force in April 2016 was 198,800. Of those in the labour force 188,900 persons were employed and 9,800 persons were unemployed. The activity rate was 84.1%, the employment rate was 79.9% and the unemployment rate was 4.9%. Comparison between April 2015 and 2016 shows an increase in activity, or 2.1 percentage points of the total population. Number of employed increased by 8,900 persons and the rate went up by 2.5 points. Number of unemployed decreased by 800 persons and the unemployment rate went down by 0.6 points.
The Icelandic labour market changes regularly in certain months, as can be seen in the figures below. The variability is caused by various seasonal factors like in the spring when the youth (16-24 years) increasingly enters the labour market in search of summer and/or future jobs. This increases the unemployment rate substantially for the short term.
Figure 1. Labour force April 2016
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 3.2% in April 2016
According to the seasonal adjustment the estimated number of people in the labour force was 196,700 in April 2016, which correspond to 84.2% activity rate, which is one point higher than it was in the previous month. The employment rate was 81% and increased by 0.7 points between March and April. At the same time the unemployment rate has increased to 3.7% in April from 3.4% in March. The trend line for the last six months shows that the activity rate has increased by 0.3 points and the unemployment rate decreased by the same number. For the same period the employment rate has increased by 0.6 points.
Implementation
April 2016 is divided into four weeks, from 4th of April to 1st of May. The total sample size was 1,214 persons, 16–74 years, randomly chosen from the Population Register. When those who had passed away and those who were living abroad had been deducted from the sample the net sample was 1,182 persons. In total the number of usable answers was 867 which correspond to 74.7% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.3 points, employment rate is ±2.6 points and unemployment rate is ±1.6 points. Figures may not add up because of rounding.
All numbers for the first two months in every quarter of the year are preliminary until the end of the quarter.
| Table 1. Labour market in March - Original | ||||||
| CI | CI | CI | ||||
| 2014 | (±95%) | 2015 | (±95%) | 2016 | (±95%) | |
| Total 16-74 years | ||||||
| Activity rate | 79.2 | 2.6 | 82.0 | 2.1 | 84.1 | 2.3 |
| Employment rate | 74.4 | 2.8 | 77.5 | 2.3 | 79.9 | 2.6 |
| Unemployment rate | 6.0 | 1.7 | 5.6 | 1.4 | 4.9 | 1.6 |
| Hours of work | 36.5 | 1.2 | 37.2 | 1.2 | 39.4 | 1.3 |
| Labour force | 180,700 | 5,900 | 190,600 | 4,900 | 198,800 | 5,500 |
| Employed | 169,800 | 6,400 | 180,000 | 5,300 | 188,900 | 6,100 |
| Unemployed | 10,900 | 3,100 | 10,600 | 2,700 | 9,800 | 3,200 |
| Inactive | 47,500 | 5,900 | 41,800 | 4,900 | 37,600 | 5,500 |
| Est. population | 228,200 | • | 232,400 | • | 236,400 | • |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| Nov-15 | Dec-15 | Jan-16 | Feb-16 | Mar-16 | Apr-16 | |
| Total 16-74 years | ||||||
| Activity rate | 83.2 | 82.4 | 82.9 | 82.8 | 83.2 | 84.2 |
| Employment rate | 79.6 | 80.6 | 80.7 | 80.1 | 80.4 | 81.0 |
| Unemployment rate | 4.3 | 2.2 | 2.7 | 3.2 | 3.4 | 3.7 |
| Hours of work | 40.3 | 40.4 | 40.7 | 40.3 | 40.3 | 40.3 |
| Labour force | 194,900 | 191,000 | 194,200 | 193,800 | 194,300 | 199,200 |
| Employed | 186,400 | 186,700 | 189,000 | 187,600 | 187,800 | 191,700 |
| Unemployed | 8,400 | 4,300 | 5,200 | 6,200 | 6,500 | 7,500 |
| Inactive | 39,300 | 40,700 | 40,000 | 40,300 | 39,300 | 37,400 |
| Est. population | 234,100 | 231,700 | 234,200 | 234,100 | 233,600 | 236,600 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| Nov-15 | Dec-15 | Jan-16 | Feb-16 | Mar-16 | Apr-16 | |
| Total 16-74 years | ||||||
| Activity rate | 82.8 | 82.9 | 82.9 | 82.9 | 83.0 | 83.1 |
| Employment rate | 79.8 | 80.0 | 80.1 | 80.1 | 80.2 | 80.4 |
| Unemployment rate | 3.6 | 3.5 | 3.4 | 3.3 | 3.3 | 3.3 |
| Hours of work | 40.4 | 40.4 | 40.4 | 40.4 | 40.3 | 40.3 |
| Labour force | 192,300 | 193,300 | 194,200 | 195,000 | 195,700 | 196,200 |
| Employed | 185,300 | 186,600 | 187,700 | 188,500 | 189,200 | 189,700 |
| Unemployed | 7,000 | 6,700 | 6,500 | 6,500 | 6,500 | 6,500 |
| Inactive | 39,800 | 40,000 | 40,200 | 40,200 | 40,100 | 39,800 |
| Est. population | 232,100 | 233,300 | 234,400 | 235,200 | 235,800 | 236,100 |