NEWS RELEASE LABOUR MARKET 16 JANUARY 2013

The number of persons in the labour force in December 2012 was 180,500 which corresponds to an activity rate of 80%. The number of employed persons was 170,300 and unemployed persons were 10,100. The employment rate was 75.5% and the unemployment rate was 5.6%. The unemployment rate has decreased by 0.3 percentage points from December 2011 when it was 5.9%. In December 2012 the male unemployment rate was 6.2% compared to 6.7% in December 2011 and the female unemployment rate was 5% compared to 5.1% in December 2011.

Flowchart. Labour force December 2012


Figures may not add up because of rounding.


Seasonally adjusted unemployment 5.7%

The seasonally adjusted data shows that in December 2012 unemployed persons aged 16-74 amounted to 10,300 or 5.7% compared to 7,800 in November 2012 or 4.5%. The number of seasonally adjusted employed persons in December was 171,200 or 75.9% compared to 168.300 or 75.9% in November. The reason why employment rate is the same between the two months, even though the number of those in employment increased, is because of overall increase of the labour force.  The seasonally adjusted trend data shows that for the last six months unemployment has decreased by 10.2% and the rate by 0.5 points. For the last twelve months unemployment has decreased by 15.8% and the rate by 1 point. The twelve month trend for employed shows an increase in number of employed by 1.5%.


Implementation

December 2012 is divided in to four weeks, from the 3rd to 30th of December. The total sample size for December 2012 was 1,201 persons, 16 to 74 years randomly chosen from the Population Register. When those who had passed away or those who were living abroad had been deducted from the sample the net sample was 1,181 persons. In total the number of usable answers was 934 which correspond to 79.1% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.6%, employment rate is ±2.8% and unemployment rate is ±1.7%. Figures may not add up because of rounding.

Table 1. Labour market in December - Orginal
2010 CI (± 95%)  2011 CI (± 95%)  2012 CI (± 95%) 
Total 16-74 years
Activity rate 80.4 2.2 79.2 2.2 80.0 2.6
Employment rate 73.7 2.5 74.5 2.4 75.5 2.8
Unemployment rate 8.2 1.7 5.9 1.4 5.6 1.7
Hours of work 36.3 1.1 37.2 1.1 37.6 1.4
Labour force 179,700 5,000 177,300 5,000 180,500 5,800
Employed 164,900 5,500 166,900 5,300 170,300 6,200
Unemployed 14,800 3,100 10,500 2,600 10,100 3,000
Inactive 43,900 5,000 46,700 5,000 45,000 5,800
Est. population 223,700 224,000 225,500

Table 2. Labour market last 6 months - Seasonal adjustment
Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
Total 16-74 years
Activity rate 81.0 79.1 81.1 79.8 79.4 80.5
Employment rate 76.6 74.2 76.7 75.9 75.9 75.9
Unemployment rate 5.4 6.3 5.4 4.8 4.5 5.7
Hours of work 40.3 39.3 39.2 39.5 39.4 40.3
Labour force 181,400 174,200 182,900 178,800 176,200 181,500
Employed 171,700 163,300 173,100 170,100 168,300 171,200
Unemployed 9,700 10,900 9,800 8,700 7,800 10,300
Inactive 42,700 45,900 42,800 45,200 45,700 44,000
Est. population 224,100 220,100 225,700 224,000 221,900 225,500

Table 3. Labour market last 6 months - Seasonal adjustment trend
Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
Total 16-74 years
Activity rate 80.8 80.4 80.2 80.0 79.9 79.9
Employment rate 76.1 75.9 75.7 75.6 75.6 75.6
Unemployment rate 5.8 5.7 5.6 5.4 5.4 5.4
Hours of work 39.8 39.6 39.5 39.5 39.7 39.8
Labour force 180,400 179,600 179,300 179,200 179,200 179,300
Employed 169,900 169,400 169,300 169,500 169,500 169,600
Unemployed 10,500 10,200 10,000 9,700 9,700 9,700
Inactive 42,900 43,700 44,400 44,800 45,100 45,100
Est. population 223,300 223,300 223,700 224,100 224,300 224,400


Statistics

Further Information

For further information please contact 528 1100 , email upplysingar@hagstofa.is

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