According to the Icelandic Labour Force Survey the number of persons in the labour force in March 2016 was 191,000. Of those in the labour force 183,800 persons were employed and 7,200 persons were unemployed. The activity rate was 81.8%, the employment rate was 78.7% and the unemployment rate was 3.1%. Comparison between March 2015 and 2016 shows a little decrease in activity, or 0.2 percentage points of the total population and the employment rate stayed the same. At the same time the unemployment rate decreased by 0.3 points or by 500 persons.
Figure 1. Labour force March 2016
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 3.3% in March 2016
According to the seasonal adjustment the estimated number of people in the labour force was 194,300 in March 2016, which correspond to 83.1% activity rate which is 0.4 points higher than it was in February 2016. The employment rate was 80.3% and increased by 0.2 points between February and March. The unemployment rate was 3.3% in March compared to 2.6% in February. The trend line for the last six months shows that the activity rate is the same while the unemployment rate has decreased by 0.6 points and employment rate has decreased by 0.5 points.
Implementation
Mach 2016 is divided into five weeks, from 29th of February to 3rd of April. The total sample size was 1,520 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 1,474 persons. In total the number of usable answers was 1,085 which correspond to 73.6% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.2 points, employment rate is ±2.4 points and unemployment rate is ±1.3 points. Figures may not add up because of rounding.
| Table 1. Labour market in March - Original | ||||||
| CI | CI | CI | ||||
| 2014 | (±95%) | 2015 | (±95%) | 2016 | (±95%) | |
| Total 16-74 years | ||||||
| Activity rate | 79.9 | 2.6 | 82.0 | 2.4 | 81.8 | 2.2 |
| Employment rate | 75.0 | 2.8 | 78.6 | 2.6 | 78.7 | 2.4 |
| Unemployment rate | 6.1 | 1.7 | 4.0 | 1.4 | 3.8 | 1.3 |
| Hours of work | 41.3 | 1.3 | 39.3 | 1.3 | 38.2 | 1.3 |
| Labour force | 183,200 | 5,900 | 190,100 | 5,600 | 191,000 | 5,200 |
| Employed | 172,000 | 6,300 | 182,400 | 6,000 | 183,800 | 5,600 |
| Unemployed | 11,200 | 3,200 | 7,700 | 2,700 | 7,200 | 2,500 |
| Inactive | 46,100 | 5,900 | 41,800 | 5,600 | 42,600 | 5,200 |
| Est. population | 229,300 | • | 231,900 | • | 233,600 | • |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| Oct-15 | Nov-15 | Dec-15 | Jan-16 | Feb-16 | Mar-16 | |
| Total 16-74 years | ||||||
| Activity rate | 82.0 | 83.2 | 82.4 | 82.9 | 82.7 | 83.1 |
| Employment rate | 78.7 | 79.6 | 80.6 | 80.7 | 80.1 | 80.3 |
| Unemployment rate | 4.0 | 4.3 | 2.2 | 2.7 | 3.2 | 3.3 |
| Hours of work | 40.5 | 40.4 | 40.5 | 40.7 | 40.3 | 40.3 |
| Labour force | 190,500 | 194,800 | 191,000 | 194,100 | 193,700 | 194,300 |
| Employed | 182,800 | 186,400 | 186,700 | 189,000 | 187,500 | 187,800 |
| Unemployed | 7,700 | 8,400 | 4,200 | 5,200 | 6,200 | 6,500 |
| Inactive | 41,700 | 39,300 | 40,800 | 40,000 | 40,400 | 39,500 |
| Est. population | 232,100 | 234,100 | 231,700 | 234,100 | 234,200 | 233,800 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| Oct-15 | Nov-15 | Dec-15 | Jan-16 | Feb-16 | Mar-16 | |
| Total 16-74 years | ||||||
| Activity rate | 82.7 | 82.7 | 82.7 | 82.7 | 82.7 | 82.7 |
| Employment rate | 79.6 | 79.8 | 80.0 | 80.0 | 80.0 | 80.1 |
| Unemployment rate | 3.7 | 3.6 | 3.4 | 3.2 | 3.2 | 3.1 |
| Hours of work | 40.3 | 40.4 | 40.4 | 40.4 | 40.4 | 40.4 |
| Labour force | 191,300 | 192,300 | 193,100 | 193,700 | 194,100 | 194,500 |
| Employed | 184,200 | 185,400 | 186,600 | 187,500 | 188,000 | 188,400 |
| Unemployed | 7,100 | 6,800 | 6,500 | 6,300 | 6,100 | 6,100 |
| Inactive | 40,100 | 40,100 | 40,300 | 40,600 | 40,700 | 40,700 |
| Est. population | 231,500 | 232,300 | 233,400 | 234,300 | 234,900 | 235,200 |