According to the Icelandic Labour Force Survey the number of persons in the labour force in August 2015 was 197,300. Of those in the labour force 189,800 persons were employed and 7,500 persons were unemployed. The activity rate was 84.3%, the employment rate was 81.1% and the unemployment rate was 3.8%. Between August 2014 and 2015, the activity rate increased by 0.5 percentage points and the employment rate increased by 0.3 points. On the other hand the unemployment rate decreased by 0.9 points from 4.7% in August 2014.

Figure 1. Labour force August 2015



Figures may not add up because of rounding.

Seasonally adjusted unemployment was 4.2% in August
The seasonally adjusted data show that the number of people in the labour force was 195,300 in August 2015 corresponding to 83.7% activity rate. The number of unemployed persons, in August 2015, amounted to 8,200 and had increased by 500 since July. The unemployment rate was 4.2% in August compared to 4% in July. According to the seasonal adjustment the employment rate was 80.2% in August. Between July and August, the employment rate increased by 1.6 points and the unemployment rate increased by 0.2 points. The trend for seasonally adjusted data in the last six months shows a decrease by 0.1 percentage points in the unemployment rate and 0.4 points decrease for the last 12 months. The employment rate has increased by 0.7 points in the last six months and by one point in the last 12 months.

 

 

Implementation
August 2015 is divided into five weeks, from 3rd to 30th of August. The total sample size was 1,225 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 1,187 persons. In total the number of usable answers was 1,147 corresponding to 75.7% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.3 points, employment rate is ±2.5 points and unemployment rate is ±1.4 points. Figures may not add up because of rounding. 

Table 1. Labour market in August - Original
    CI   CI   CI
  2013 (±95%) 2014 (±95%) 2015 (±95%)
Total 16-74 years            
Activity rate 82.4 2.1 83.0 2.4 84.3 2.3
Employment rate 78.8 2.2 79.1 2.6 81.1 2.5
Unemployment rate 4.4 1.3 4.7 1.5 3.8 1.4
Hours of work 40.8 1.2 41.3 1.3 40.7 1.3
Labour force 187,700 4,700 192,100 5,500 197,300 5,400
Employed 179,500 5,100 183,000 6,000 189,800 5,800
Unemployed 8,200 2,500 9,000 2,800 7,500 2,700
Inactive 40,100 4,700 39,400 5,500 36,700 5,400
Est. population 227,800 231,400 234,000

 

Table 2. Labour market last 6 months - Seasonal adjustment
  Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15
Total 16-74 years            
Activity rate 82.8 82.3 82.9 83.2 81.9 83.7
Employment rate 79.5 78.4 79.0 80.5 78.6 80.2
Unemployment rate 4.0 4.7 4.7 3.2 4.0 4.2
Hours of work 39.8 39.7 40.0 40.0 40.1 39.7
Labour force 191,800 192,200 194,500 190,700 190,700 195,300
Employed 184,100 183,100 185,400 184,500 183,000 187,100
Unemployed 7,700 9,100 9,100 6,100 7,700 8,200
Inactive 39,800 41,300 40,000 38,600 42,000 38,000
Est. population 231,600 233,500 234,500 229,200 232,700 233,300
Table 3. Labour market last 6 months - Seasonal adjustment trend
  Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15
Total 16-74 years            
Activity rate 82.2 82.4 82.5 82.6 82.7 82.8
Employment rate 78.5 78.7 78.9 79.1 79.2 79.2
Unemployment rate 4.5 4.4 4.4 4.3 4.3 4.3
Hours of work 39.9 39.9 39.9 39.9 39.9 39.9
Labour force 191,600 192,100 192,500 193,000 193,400 193,800
Employed 183,000 183,600 184,100 184,600 185,000 185,400
Unemployed 8,500 8,500 8,400 8,400 8,400 8,400
Inactive 41,500 41,100 40,800 40,500 40,300 40,200
Est. population 233,100 233,200 233,300 233,500 233,700 234,000

 

Statistics