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

Statistics