In the last few years, the number of employers has increased in most economic activities.
In January 2022, there were 18,906 employers in Iceland, an increase of 828 (5%) from January 2021. In 2021, there were on average 19,440 employers, an increase of 1,004 (5%) from 2020.
In 2020, there were many restrictions due to the Covid-19 pandemic and therefore it is relevant to compare the number of employers in 2021 with the number of employers in 2019, i.e. before the pandemic. During that period, the number of employers increased by 680 (4%) from 2019.
Causes of error and revision of statistics
These figures are preliminary. When using income data as the source, there is a risk of underestimating the latest figures if employers do not submit information in a timely manner. Other causes of error include reimbursements to former employees. When new data are published, previous figures are revised. For more information on revisions and the magnitude of recent revisions by economic activity, please refer to the metadata and the summary of revisions.
Previously published statistics on employers and employees have been revised to take into account the latest available information on salaries and classifications of employers based on their main economic activities.
The number of employers in November 2021 is now estimated at 20,203 which is an increase of 1,582 (8.5%) from November 2020.
In January, the number of employers and employees in November 2021 were estimated at 19,715. The number of employees was then estimated to have increased by 1,094 (5.9%) from November 2020 to November 2021.
Other statistics on the business economy
It should be noted that these figures do not include information on self-employed people with calculated remuneration, a common situation in construction, agriculture and creative industries. Statistics Iceland publishes register-based data on people in employment including those who are on maternity leave or self-employed. That publication encompasses the number of employees by gender, age, origin and legal residence.
Statistics Iceland conducts a continuous labour force survey (LFS). The main results (e.g. unemployment) are published monthly and more detailed results (number of full-time employees, working hours by industry, etc.) are published annually. The labour force survey provides information on both employees and self-employed people and only people who are permanently living in Iceland are included in the sample. Hence, the LFS figures are not the same as published in this press release. Data on the number of employers and employees should be used mainly as short-term indicators and to provide information on within-year variations.
Statistics Iceland publishes taxable payments to individuals monthly as experimental statistics. Monthly taxable payments contain two types of monthly data. Firstly, information on taxable wages (total wage sums), both by economic activity and by municipality, along with the number of employers that pay wages and employees that receive wages. Secondly, types of taxable payments (total sums) which consists of wages as well as other taxable payments such as parental leave payments, unemployment benefits, pension payments and other taxable benefits and payments.
Statistics Iceland publishes annual income and balance statements of enterprises by activity, based on tax returns to provide a detailed picture of the individual sectors for the period 2002-2020.