According to the Icelandic Labour Force Survey the number of persons in the labour force in November 2015 was 194,900. Of those in the labour force 188,100 persons were employed and 6,800 persons were unemployed. The activity rate was 83.2%, the employment rate was 80.3% and the unemployment rate was 3.5%. Between November 2014 and 2015, the activity rate increased by 2.4 percentage points and the employment rate increased by two points. At the same time the unemployment rate increased by 0.4 points from 3.1% in November 2014.
Figure 1. Labour force November 2015
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 4% in November
The seasonally adjusted data show that the number of people in the labour force was 195,800 in November 2015 corresponding to an 83.5% activity rate. According to the seasonal adjustment the unemployment rate was 4% in November which is just 0.1 point lower than it was in October. The number of unemployed persons amounted to 7,800. The employment rate was 80.2% in November. Between November and October, the employment rate increased by 1.3 points. The trend for seasonally adjusted data in the last six months shows no chance in the unemployment rate and that the employment and activity rates have increased by 0.3 points. For the last 12 months the trend for unemployment rate has decreased by 0.2 percentage points and that both employment rate and activity rate has increased by 0.3 points.
Implementation
November 2015 is divided into four weeks, from 2nd to 29th of November. The total sample size was 1,235 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 1,193 persons. In total the number of usable answers was 890 corresponding to a 74.6% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on the activity rate is ±2.4 points, employment rate ±2.6 points and unemployment rate ±1.3 points. Figures may not add up because of rounding.
| Table 1. Labour market in October - Original | ||||||
| CI | CI | CI | ||||
| 2013 | (±95%) | 2014 | (±95%) | 2015 | (±95%) | |
| Total 16-74 years | ||||||
| Activity rate | 79.6 | 2.5 | 80.8 | 2.5 | 83.2 | 2.4 |
| Employment rate | 76.3 | 2.6 | 78.3 | 2.6 | 80.3 | 2.6 |
| Unemployment rate | 4.2 | 1.4 | 3.1 | 1.2 | 3.5 | 1.3 |
| Hours of work | 40.3 | 1.2 | 41.3 | 1.2 | 40.4 | 1.3 |
| Labour force | 182,300 | 5,700 | 185,400 | 5,700 | 194,900 | 5,600 |
| Employed | 174,600 | 6,000 | 179,600 | 6,000 | 188,100 | 6,000 |
| Unemployed | 7,700 | 2,600 | 5,700 | 2,300 | 6,800 | 2,600 |
| Inactive | 46,600 | 5,700 | 44,100 | 5,700 | 39,500 | 5,600 |
| Est. population | 228,800 | • | 229,400 | • | 234,400 |
• |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| Jun-15 | Jul-15 | Aug-15 | Sep-15 | Oct-15 | Nov-15 | |
| Total 16-74 years | ||||||
| Activity rate | 83.2 | 81.8 | 83.4 | 82.9 | 82.2 | 83.5 |
| Employment rate | 80.5 | 78.4 | 79.9 | 79.3 | 78.9 | 80.2 |
| Unemployment rate | 3.3 | 4.2 | 4.3 | 4.3 | 4.1 | 4.0 |
| Hours of work | 40.1 | 40.2 | 39.9 | 40.3 | 40.4 | 40.1 |
| Labour force | 190,700 | 189,000 | 192,600 | 191,500 | 192,500 | 195,800 |
| Employed | 184,400 | 181,100 | 184,400 | 183,200 | 184,700 | 187,900 |
| Unemployed | 6,300 | 7,900 | 8,200 | 8,200 | 7,900 | 7,800 |
| Inactive | 38,400 | 42,100 | 38,300 | 39,500 | 41,600 | 38,700 |
| Est. population | 229,200 | 231,100 | 230,900 | 230,900 | 234,100 | 234,500 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| Jun-15 | Jul-15 | Aug-15 | Sep-15 | Oct-15 | Nov-15 | |
| Total 16-74 years | ||||||
| Activity rate | 82.6 | 82.6 | 82.6 | 82.7 | 82.8 | 82.9 |
| Employment rate | 79.2 | 79.2 | 79.2 | 79.3 | 79.4 | 79.6 |
| Unemployment rate | 4.1 | 4.1 | 4.1 | 4.1 | 4.1 | 4.1 |
| Hours of work | 40.1 | 40.1 | 40.1 | 40.2 | 40.2 | 40.2 |
| Labour force | 192,000 | 191,900 | 191,900 | 192,300 | 193,000 | 193,800 |
| Employed | 184,200 | 184,000 | 184,100 | 184,400 | 185,100 | 185,900 |
| Unemployed | 7,800 | 7,900 | 7,900 | 7,900 | 7,900 | 7,900 |
| Inactive | 40,400 | 40,400 | 40,400 | 40,300 | 40,100 | 39,800 |
| Est. population | 232,400 | 232,300 | 232,400 | 232,700 | 233,100 | 233,700 |