According to the Icelandic Labour Force Survey the number of persons in the labour force in April 2015 was 191,600. Of those in the labour force 181,000 persons were employed and 10,600 persons were unemployed. The activity rate was 82.3%, the employment rate was 77.8% and the unemployment rate was 5.5%. Comparison between April 2014 and 2015 shows that the number of persons in the labour force increased by 10,900. The number of employed persons increased by 11,200 and of unemployed persons decreased slightly, or by 300. The activity rate increased by 3.2 percentage points, employment rate by 3.4 points and unemployment rate decreased by 0.5 points. The number of inactive decreased by 6,400 persons. Previous labour force surveys show that unemployment in Iceland always peaks in April and May each year when a large number of young people enter the labour market in search of work. In April 2015 the unemployment rate for 16-24 years old was 14.6% compared to 3.7% amongst those who are 25 and older. In comparison the unemployment rate in April 2014 was 15.6% for 16-24 years old and 4.2% for 25 and older.
Figure 1. Labour force April 2015
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 4.6% in April
The seasonally adjusted data show that in April 2015 the number of people in the labour force was 192,600 corresponding to 82.4% activity rate. The number of unemployed persons, in April 2015, amounted to 8,800 and had increased by 1,300 since March. The unemployment rate was 4.6% in April compared to 3.9% in March. According to the seasonal adjustment the employment rate was 78.6%. Between March and April, the employment rate decreased by 1 point and the unemployment rate decreased by 0.3 points. The trend for seasonally adjusted data in the last six months shows that the unemployment rate has decreased by 0.3 percentage points and by 0.7 points for the last 12 months. The employment rate has increased by 0.3 points in the last six months and by 1.2 points in the last 12 months.
Implementation
April 2015 is divided into five weeks, from 30th of March to 3rd of May 2015. The total sample size was 1,526 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 1,494 persons. In total the number of usable answers was 1.192 corresponding to 79.8% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.1 point, employment rate is ±2.3 points and unemployment rate is ±1.4 points. Figures may not add up because of rounding.
| Table 1. Labour market in April - Original | ||||||
| CI | CI | CI | ||||
| 2013 | (±95%) | 2014 | (±95%) | 2015 | (±95%) | |
| Total 16-74 years | ||||||
| Activity rate | 82.0 | 2.4 | 79.2 | 2.6 | 82.3 | 2.1 |
| Employment rate | 76.6 | 2.6 | 74.4 | 2.8 | 77.8 | 2.3 |
| Unemployment rate | 6.6 | 1.7 | 6.0 | 1.7 | 5.5 | 1.4 |
| Hours of work | 37.8 | 1.2 | 36.5 | 1.2 | 37.4 | 1.2 |
| Labour force | 185,400 | 5,500 | 180,700 | 6,000 | 191,600 | 4,900 |
| Employed | 173,100 | 6,000 | 169,800 | 6,400 | 181,000 | 5,400 |
| Unemployed | 12,300 | 3,200 | 10,900 | 3,100 | 10,600 | 2,700 |
| Inactive | 40,600 | 5,500 | 47,500 | 6,000 | 41,100 | 4,900 |
| Est. population | 226,000 | • | 228,200 | • | 232,700 | • |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| Nov-14 | Dec-14 | Jan-15 | Feb-15 | Mar-15 | Apr-15 | |
| Total 16-74 years | ||||||
| Activity rate | 82.0 | 80.8 | 81.2 | 82.5 | 82.9 | 82.4 |
| Employment rate | 79.0 | 77.3 | 77.9 | 78.7 | 79.6 | 78.6 |
| Unemployment rate | 3.7 | 4.4 | 4.1 | 4.6 | 3.9 | 4.6 |
| Hours of work | 40.4 | 40.0 | 40.2 | 39.8 | 39.9 | 39.8 |
| Labour force | 187,600 | 186,400 | 188,900 | 192,000 | 192,000 | 192,600 |
| Employed | 180,700 | 178,100 | 181,200 | 183,100 | 184,500 | 183,800 |
| Unemployed | 6,900 | 8,300 | 7,700 | 8,900 | 7,500 | 8,800 |
| Inactive | 41,100 | 44,200 | 43,700 | 40,700 | 39,700 | 41,100 |
| Est. population | 228,700 | 230,500 | 232,600 | 232,700 | 231,700 | 233,700 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| Nov-14 | Dec-14 | Jan-15 | Feb-15 | Mar-15 | Apr-15 | |
| Total 16-74 years | ||||||
| Activity rate | 82.1 | 82.0 | 81.9 | 82.0 | 82.1 | 82.2 |
| Employment rate | 78.3 | 78.3 | 78.3 | 78.4 | 78.6 | 78.7 |
| Unemployment rate | 4.6 | 4.5 | 4.4 | 4.3 | 4.3 | 4.3 |
| Hours of work | 40.0 | 40.0 | 40.0 | 40.0 | 39.9 | 39.9 |
| Labour force | 189,000 | 189,200 | 189,700 | 190,600 | 191,400 | 191,900 |
| Employed | 180,300 | 180,700 | 181,300 | 182,300 | 183,200 | 183,600 |
| Unemployed | 8,600 | 8,500 | 8,400 | 8,300 | 8,200 | 8,200 |
| Inactive | 41,200 | 41,600 | 41,900 | 42,000 | 41,800 | 41,600 |
| Est. population | 230,200 | 230,800 | 231,600 | 232,500 | 233,200 | 233,400 |