According to the Icelandic Labour Force Survey the number of persons in the labour force in September 2016 was 195,000. Of those in the labour force 189,300 persons were employed and 5,800 persons were unemployed. The activity rate was 82.3%, the employment rate was 79.9% and the unemployment rate was 3%. Comparison between September 2015 and 2016 shows increase in activity by 0.9 percentage points of the total population. Number of employed increased by 8,500 persons and the rate went up by 1.6 points. Number of unemployed decreased by 1,300 persons and the unemployment rate went down by 0.8 points.
Figure 1. Labour force August 2016
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 3.2% in September
The changes in the Icelandic labour market display a certain pattern as regards seasonality, as can be seen in the figures below. The seasonally adjusted data show that in September 2016 the number of people in the labour force was 198,300 corresponding to 84.1% activity which is the same as in August. The number of unemployed persons, in September 2016, is estimated around 6,400 and has increased by 200 since August. The unemployment rate was 3.2% in September compared to 3.1% in August. According to the seasonal adjustment the employment rate was 81.4% in September. The trend for seasonally adjusted data in the last six months shows that the unemployment rate has stayed the same, but in the last 12 months it has decreased by 0.7 points. The employment rate has increased by 0.7 points in the last six months and by 1.6 points in the last 12 months.
Implementation
September 2016 is divided into five weeks, from 29th August to 2nd of October. The total sample size was 1,513 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 1,467 persons. In total the number of usable answers was 1.083 which corresponds to 73.8% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.2 points, employment rate is ±2.3 points and unemployment rate is ±1.1 point. Figures may not add up because of rounding.
| Table 1. Labour market in September - Original | ||||||
| CI | CI | CI | ||||
| 2014 | (±95%) | 2015 | (±95%) | 2016 | (±95%) | |
| Total 16-74 years | ||||||
| Activity rate | 79.2 | 2.6 | 81.4 | 2.5 | 82.3 | 2.2 |
| Employment rate | 75.9 | 2.7 | 78.3 | 2.7 | 79.9 | 2.3 |
| Unemployment rate | 4.1 | 1.5 | 3.8 | 1.5 | 3.0 | 1.1 |
| Hours of work | 39.9 | 1.3 | 40.7 | 1.3 | 41.2 | 1.2 |
| Labour force | 183,200 | 6,000 | 187,900 | 5,800 | 195,000 | 5,200 |
| Employed | 175,700 | 6,300 | 180,800 | 6,300 | 189,300 | 5,500 |
| Unemployed | 7,500 | 2,600 | 7,100 | 2,800 | 5,800 | 2,300 |
| Inactive | 48,200 | 6,000 | 42,900 | 5,800 | 41,900 | 5,200 |
| Est. population | 231,400 | • | 230,800 | • | 237,000 | • |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| Apr-16 | May-16 | Jun-16 | Jul-16 | Aug-16 | Sep-16 | |
| Total 16-74 years | ||||||
| Activity rate | 84.1 | 83.5 | 82.8 | 82.9 | 84.1 | 84.1 |
| Employment rate | 81.1 | 81.8 | 80.7 | 80.5 | 81.5 | 81.4 |
| Unemployment rate | 3.6 | 2.1 | 2.5 | 2.9 | 3.1 | 3.2 |
| Hours of work | 40.3 | 40.3 | 39.8 | 39.8 | 39.7 | 40.4 |
| Labour force | 197,100 | 195,400 | 193,200 | 195,300 | 197,300 | 198,300 |
| Employed | 190,000 | 191,300 | 188,400 | 189,700 | 191,200 | 191,900 |
| Unemployed | 7,000 | 4,100 | 4,800 | 5,700 | 6,100 | 6,400 |
| Inactive | 37,300 | 38,500 | 40,100 | 40,400 | 37,300 | 37,500 |
| Est. population | 234,400 | 234,000 | 233,400 | 235,700 | 234,600 | 235,800 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| Apr-16 | May-16 | Jun-16 | Jul-16 | Aug-16 | Sep-16 | |
| Total 16-74 years | ||||||
| Activity rate | 83.1 | 83.3 | 83.4 | 83.6 | 83.7 | 83.7 |
| Employment rate | 80.6 | 80.8 | 81.0 | 81.1 | 81.2 | 81.3 |
| Unemployment rate | 3.0 | 3.0 | 2.9 | 2.9 | 3.0 | 2.9 |
| Hours of work | 40.2 | 40.2 | 40.1 | 40.0 | 40.0 | 40.0 |
| Labour force | 194,800 | 195,300 | 195,800 | 196,300 | 196,900 | 197,300 |
| Employed | 188,900 | 189,500 | 190,000 | 190,600 | 191,100 | 191,500 |
| Unemployed | 5,900 | 5,800 | 5,700 | 5,800 | 5,800 | 5,800 |
| Inactive | 39,600 | 39,200 | 38,900 | 38,600 | 38,500 | 38,400 |
| Est. population | 234,400 | 234,500 | 234,700 | 235,000 | 235,400 | 235,700 |