According to seasonally adjusted estimates from the Icelandic Labour Force Survey, the number of people in the labour force was 208,200 in June 2019. This corresponds to an 81.5% activity rate, which is one percentage point higher than in May. The seasonally adjusted number of unemployed persons in June 2019 was estimated to be 6,800 or 3.3%, a decrease of one and a half percentage point since May. The seasonally adjusted employment rate for June was 78.8%, which is an increase of 2.1 percentage points from the month before.
The seasonally adjusted trend over the last six months shows that the activity rate is almost at a standstill. But there is a decrease in the employment rate by 0.5 percentage points and the unemployment rate increased by 0.5 percentage points.
The unadjusted measures from the Icelandic Labour Force Survey show that 216,000 persons 16 to 74 years old belonged to the labour force in June 2019, setting the activity rate at 84.0% (±2.2). Thereof, 209,100 (±6,300) persons were employed and 6,800 (±3,000) persons were unemployed. The employment rate was 81.4% (±2.5) and the unemployment rate was 3.2% (±1.4).
Comparing June 2018 and 2019 shows that the number of people in the labour force increased by 6,300, while the activity rate stayed exactly the same. The number of employed persons increased by 5,900 and the rate decreased slightly or by 0.1 percentage point.
The number of unemployed increased by 400 in June 2019 compared with June 2018 when the number of unemployed was 6,400 or 3.1% of the labour force. In total, there were 41,100 inactive persons in the population in June 2019 compared to 39,800 in June 2018.
Flow Chart — Labour force 16–74 years — June 2019 measures
Figures may not add up because of rounding. CI (95%) Unemployment rate: Total ±1.5; males ±1.7; females ±2.3.
About the data
June 2019 is divided into four weeks, from June 3rd to June 30th 2019. The total sample size for the Labour Force Survey in May was 1,528 persons 16–74 years old who were randomly selected from the registered population. When individuals out of scope had been removed from the sample, the net sample was 1,504 persons. In total, the number of responses was 902 individuals corresponding to a response rate of 60.0%.
It should be noted that all numbers are rounded to the nearest hundred, and results are weighted by sex and age groups.
| Table 1. Labour market in June — Original | ||||||
| CI | CI | CI | ||||
| 2017 | (±95%) | 2018 | (±95%) | 2019 | (±95%) | |
| Total 16–74 years | ||||||
| Activity rate | 85.5 | 2.1 | 84.0 | 2.2 | 84.0 | 2.2 |
| Employment rate | 83.5 | 2.2 | 81.5 | 2.3 | 81.4 | 2.5 |
| Unemployment rate | 2.3 | 1.1 | 3.1 | 1.3 | 3.2 | 1.4 |
| Hours of work | 41.6 | 1.2 | 41.6 | 1.1 | 41.0 | 1.5 |
| Labour force | 205,800 | 5,000 | 209,700 | 5,400 | 216,000 | 5,700 |
| Employed | 201,100 | 5,300 | 203,200 | 5,900 | 209,100 | 6,300 |
| Unemployed | 4,700 | 2,200 | 6,400 | 2,700 | 6,800 | 3,000 |
| Inactive | 35,000 | 5,000 | 39,800 | 5,400 | 41,100 | 5,700 |
| Est. population | 240,800 | • | 249,500 | • | 257,100 | • |
| Table 2. Labour market last 6 months — seasonal adjustment | ||||||
| Jan-19 | Feb-19 | Mar-19 | Apr-19 | May-19 | Jun-19 | |
| Total 16–74 years | ||||||
| Activity rate | 82.4 | 80.7 | 82.7 | 82.0 | 80.6 | 81.5 |
| Employment rate | 80.0 | 78.0 | 80.1 | 79.3 | 76.8 | 78.8 |
| Unemployment rate | 3.0 | 3.3 | 3.1 | 3.3 | 4.8 | 3.3 |
| Hours of work | 40.1 | 39.2 | 39.4 | 40.1 | 39.5 | 39.0 |
| Labour force | 208,000 | 207,200 | 210,100 | 209,400 | 210,400 | 208,200 |
| Employed | 201,800 | 200,200 | 203,600 | 202,500 | 200,300 | 201,300 |
| Unemployed | 6,100 | 6,900 | 6,500 | 6,900 | 10,000 | 6,800 |
| Inactive | 44,300 | 49,500 | 44,000 | 45,900 | 50,600 | 47,200 |
| Est. population | 252,300 | 256,600 | 254,100 | 255,200 | 260,900 | 255,400 |
| Table 3. Labour market last 6 months — seasonal adjustment trend | ||||||
| Jan-19 | Feb-19 | Mar-19 | Apr-19 | May-19 | Jun-19 | |
| Total 16–74 years | ||||||
| Activity rate | 81.7 | 81.7 | 81.7 | 81.7 | 81.7 | 81.6 |
| Employment rate | 79.3 | 79.2 | 79.1 | 79.0 | 78.8 | 78.8 |
| Unemployment rate | 3.0 | 3.1 | 3.2 | 3.4 | 3.4 | 3.5 |
| Hours of work | 39.4 | 39.5 | 39.5 | 39.5 | 39.5 | 39.5 |
| Labour force | 207,700 | 208,100 | 208,400 | 208,600 | 208,700 | 208,900 |
| Employed | 201,600 | 201,600 | 201,600 | 201,600 | 201,600 | 201,700 |
| Unemployed | 6,200 | 6,500 | 6,800 | 7,000 | 7,200 | 7,200 |
| Inactive | 46,400 | 46,500 | 46,600 | 46,700 | 46,900 | 47,100 |
| Est. population | 254,200 | 254,600 | 254,900 | 255,300 | 255,700 | 256,000 |