According to the Icelandic Labour Force Survey the number of persons in the labour force in October 2015 was 189,400. Of those in the labour force 182,200 persons were employed and 7,200 persons were unemployed. The activity rate was 81%, the employment rate was 78% and the unemployment rate was 3.8%. Between October 2014 and 2015, the activity rate decreased by 2.3 percentage points, the employment stayed almost the same and the unemployment rate decreased by 1.2 points from 5% in October 2014.
Figure 1. Labour force October 2015
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 4% in October
The seasonally adjusted data show that the number of people in the labour force was 191,400 in October 2015 corresponding to an 82% activity rate. According to the seasonal adjustment the unemployment rate was 4% in October which is the same as it was in September. The number of unemployed persons amounted to 7,600. The employment rate was 78.7% in October. Between October and September, the employment rate decreased by 0.7 points. The trend for seasonally adjusted data in the last six months shows no chance in the unemployment rate and the same goes for the employment and activity rates. For the last 12 months the trend for unemployment rate has decreased by 0.3 percentage points, employment rate has increased by 0.5 points and the activity rate increased by 0.3 points.
Implementation
October 2015 is divided into five weeks, from 28th of September to 1st of November. The total sample size was 1,535 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 1,489 persons. In total the number of usable answers was 1.084 corresponding to a 72.8% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on the activity rate is ±2.3 points, employment rate ±2.4 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 | 81.6 | 2.2 | 81.9 | 2.1 | 81.0 | 2.3 |
| Employment rate | 77.5 | 2.3 | 77.8 | 2.3 | 78.0 | 2.4 |
| Unemployment rate | 5.0 | 1.4 | 5.0 | 1.4 | 3.8 | 1.3 |
| Hours of work | 39.0 | 1.1 | 39.8 | 1.1 | 40.8 | 1.2 |
| Labour force | 186,400 | 4,900 | 188,000 | 4,900 | 189,400 | 5,300 |
| Employed | 177,100 | 5,300 | 178,600 | 5,400 | 182,200 | 5,700 |
| Unemployed | 9,300 | 2,600 | 9,500 | 2,700 | 7,200 | 2,400 |
| Inactive | 42,200 | 4,900 | 41,600 | 4,900 | 44,300 | 5,300 |
| Est. population | 228,600 | • | 229,600 | • | 233,700 | • |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| May-15 | Jun-15 | Jul-15 | Aug-15 | Sep-15 | Oct-15 | |
| Total 16-74 years | ||||||
| Activity rate | 82.9 | 83.2 | 81.7 | 83.4 | 82.8 | 82.0 |
| Employment rate | 79.0 | 80.5 | 78.5 | 80.0 | 79.4 | 78.7 |
| Unemployment rate | 4.7 | 3.2 | 4.0 | 4.1 | 4.0 | 4.0 |
| Hours of work | 40.1 | 40.1 | 40.2 | 39.9 | 40.3 | 40.5 |
| Labour force | 194,500 | 190,500 | 188,600 | 192,500 | 190,500 | 191,400 |
| Employed | 185,300 | 184,400 | 181,000 | 184,600 | 182,800 | 183,700 |
| Unemployed | 9,200 | 6,100 | 7,500 | 7,900 | 7,600 | 7,600 |
| Inactive | 40,000 | 38,500 | 42,100 | 38,200 | 39,700 | 42,100 |
| Est. population | 234,500 | 229,000 | 230,700 | 230,700 | 230,100 | 233,400 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| May-15 | Jun-15 | Jul-15 | Aug-15 | Sep-15 | Oct-15 | |
| Total 16-74 years | ||||||
| Activity rate | 82.5 | 82.6 | 82.6 | 82.5 | 82.5 | 82.5 |
| Employment rate | 79.0 | 79.1 | 79.0 | 79.0 | 79.0 | 78.9 |
| Unemployment rate | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 |
| Hours of work | 40.0 | 40.1 | 40.1 | 40.1 | 40.2 | 40.2 |
| Labour force | 192,000 | 192,000 | 191,800 | 191,700 | 191,600 | 191,600 |
| Employed | 183,800 | 183,900 | 183,700 | 183,500 | 183,400 | 183,500 |
| Unemployed | 8,200 | 8,200 | 8,200 | 8,200 | 8,200 | 8,200 |
| Inactive | 40,700 | 40,500 | 40,500 | 40,600 | 40,700 | 40,800 |
| Est. population | 232,700 | 232,500 | 232,300 | 232,300 | 232,300 | 232,400 |