According to the Icelandic Labour Force Survey the number of persons in the labour force in July 2015 was 197,500. Of those in the labour force 191,200 persons were employed and 6,300 persons were unemployed. The activity rate was 84.5%, the employment rate was 81.8% and the unemployment rate was 3.2%. Between July 2014 and 2015, the activity rate decreased by 0.5 percentage points. The employment rate decreased by 0.3 points and the unemployment was approximately the same as in July 2014.
Figure 1. Labour force July 2015
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 4.3% in July
The seasonally adjusted data show that the number of people in the labour force was 190,600 in July 2015 corresponding to 81.9% activity rate. The number of unemployed persons, in July 2015, amounted to 8,100 and had increased by 1,800 since June. The unemployment rate was 4.3% in July compared to 3.3% in June. According to the seasonal adjustment the employment rate was 78.4% in July. Between June and July, the employment rate decreased by two points and the unemployment rate increased by one point. Even though the unemployment rate increased between June and July, the trend for seasonally adjusted data in the last six months shows a decrease by 0.2 percentage points in the unemployment rate and 0.7 points decrease for the last 12 months. The employment rate has increased by 0.6 points in the last six months and by one point in the last 12 months.
Implementation
July 2015 is divided into five weeks, from 30th of June to 2nd of August. The total sample size was 1,528 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 1,487 persons. In total the number of usable answers was 1,147 corresponding to 77.1% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.0 points, employment rate is ±2.2 points and unemployment rate is ±1.1 points. Figures may not add up because of rounding.
| Table 1. Labour market in July - Original | ||||||
| CI | CI | CI | ||||
| 2013 | (±95%) | 2014 | (±95%) | 2015 | (±95%) | |
| Total 16-74 years | ||||||
| Activity rate | 84.0 | 2,3 | 85.0 | 2 | 84.5 | 2 |
| Employment rate | 81.0 | 2,4 | 82.2 | 2,1 | 81.8 | 2,2 |
| Unemployment rate | 3.6 | 1,3 | 3.3 | 1,1 | 3.2 | 1,1 |
| Hours of work | 43.3 | 1,4 | 42.0 | 1,2 | 43.1 | 1,3 |
| Labour force | 191,100 | 5,200 | 196,000 | 4,600 | 197,500 | 4,800 |
| Employed | 184,100 | 5,600 | 189,600 | 4,900 | 191,200 | 5,100 |
| Unemployed | 6,900 | 2,500 | 6,400 | 2,200 | 6,300 | 2,200 |
| Inactive | 36,400 | 5,200 | 34,700 | 4,600 | 36,200 | 4,800 |
| Est. population | 227,400 | • | 230,600 | • | 233,600 | • |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| Feb-15 | Mar-15 | Apr-15 | May-15 | Jun-15 | Jul-15 | |
| Total 16-74 years | ||||||
| Activity rate | 82.5 | 82.7 | 82.2 | 82.9 | 83.1 | 81.9 |
| Employment rate | 78.6 | 79.6 | 78.5 | 79.4 | 80.4 | 78.4 |
| Unemployment rate | 4.6 | 3.8 | 4.5 | 4.2 | 3.3 | 4.3 |
| Hours of work | 39.9 | 39.9 | 39.8 | 40.0 | 40.1 | 40.2 |
| Labour force | 192,000 | 191,400 | 191,700 | 193,500 | 190,600 | 190,600 |
| Employed | 183,100 | 184,000 | 183,100 | 185,500 | 184,300 | 182,400 |
| Unemployed | 8,900 | 7,300 | 8,600 | 8,000 | 6,300 | 8,100 |
| Inactive | 40,800 | 39,900 | 41,400 | 40,000 | 38,700 | 42,200 |
| Est. population | 232,800 | 231,300 | 233,100 | 233,500 | 229,300 | 232,800 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| Feb-15 | Mar-15 | Apr-15 | May-15 | Jun-15 | Jul-15 | |
| Total 16-74 years | ||||||
| Activity rate | 81.9 | 82.1 | 82.2 | 82.4 | 82.4 | 82.4 |
| Employment rate | 78.4 | 78.6 | 78.8 | 79.0 | 79.0 | 79.0 |
| Unemployment rate | 4.3 | 4.2 | 4.2 | 4.1 | 4.1 | 4.1 |
| Hours of work | 40.0 | 40.0 | 40.0 | 40.0 | 40.0 | 40.0 |
| Labour force | 190,200 | 191,000 | 191,500 | 191,800 | 191,900 | 191,800 |
| Employed | 182,100 | 182,900 | 183,500 | 183,900 | 184,000 | 183,900 |
| Unemployed | 8,100 | 8,000 | 8,000 | 7,900 | 7,900 | 7,900 |
| Inactive | 41,900 | 41,700 | 41,300 | 41,100 | 41,000 | 41,000 |
| Est. population | 232,100 | 232,600 | 232,800 | 232,800 | 232,800 | 232,700 |