Unemployment rate 5.9%
The number of persons in the labour force in the 2nd quarter of 2014 was 189,900 which corresponds to an activity rate of 83.1%. The number of employed persons was 178,700 and unemployed persons were 11,300. The employment rate was 78.2% and the unemployment rate was 5.9%. From the 2nd quarter of 2013 the number of employed persons has increased by 3,200 and the number of unemployed persons decreased by 1.600. The unemployment rate among females was 6% and 5.9% among males. The average number of working hours of those who were working in the reference week was 40.1 hours, 44.1 hours for those in full-time employment and 23.8 hours for those in part-time employment.
Long-term unemployment
For the last five quarters number of long term unemployed has slowly decreased. Those who have been unemployed for 12 months or more in 2nd quarter of 2014 were 1,800 or 0.9% of the labour force. In the 2nd quarter of 2013 long term unemployment persons were 2,000 or 1.1% of the labour force.
Persons are classified as unemployed who have no employment, are actively seeking a job and could start working within two weeks or have found a job which starts within 3 months. Students who are not employed and fulfil this criteria are considered unemployed. People are classified as working (employed) if they worked one hour or more in the reference week or were absent from work they usually carry out.
| Labour market in 2nd quarter | |||||
| 2011 | 2012 | 2013 | 2014 | ||
| 2nd Q | 2nd Q | 2nd Q | 2nd Q | Conf.Int. ± | |
| Activity rate | 83,0 | 82,9 | 83,3 | 83,1 | 1,1 |
| Employment rate | 76,0 | 76,9 | 77,6 | 78,2 | 1,3 |
| Unemployment rate | 8,5 | 7,2 | 6,8 | 5,9 | 0,9 |
| Labour force, est. number | 185.900 | 185.500 | 188.300 | 189.900 | 2.600 |
| Employed, est. number | 170.100 | 172.200 | 175.500 | 178.700 | 3.000 |
| Unemployed, est. number | 15.800 | 13.300 | 12.900 | 11.300 | 1.700 |
| Employed full time, est. number | 132.200 | 132.800 | 136.300 | 142.100 | 2.700 |
| Employed part time, est. number | 37.900 | 39.400 | 39.200 | 36.500 | 2.700 |
| Working hours | 40,0 | 39,8 | 40,5 | 40,1 | 0,7 |
| Working hours full time | 44,2 | 44,1 | 45,2 | 44,1 | 0,7 |
| Working hours part time | 24,9 | 24,4 | 23,4 | 23,8 | 1,2 |
| Inactive, est. number | 38.000 | 38.300 | 37.900 | 38.500 | 2.600 |
| Population , est. number | 224.000 | 223.800 | 226.200 | 228.500 | • |
| Figures may not add up because of rounding. | |||||
Implementation of the Labour Force Survey
Since 2003 Statistics Iceland has conducted a continuous labour force survey with quarterly results. The 2nd quarter of 2014 covers 13 weeks, from 31st of March to 29th of June 2014. The total sample size was 3,955 persons aged 16–74 years old selected randomly from the National registry. When those who had passed away or those who were living abroad had been deducted from the sample the net sample was 3,854 persons. In total the number of usable answers was 3,009 which correspond to 78.1% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±1.1%, employment rate is ±1.3% and unemployment rate is ±0.9%.
Labour market in 2nd quarter 2014 - Statistical series