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

Statistics