NEWS RELEASE LABOUR MARKET 06 MAY 2016

Unemployment rate 3.2%
The number of persons in the labour force in the 1st quarter of 2016 was 190,400 corresponding to an activity rate of 81.8%. The number of employed persons was 184,300 while unemployed persons were 5,100. The employment rate was 79.2% and the unemployment rate was 3.2%. From the 1st quarter of 2015 the number of employed persons has increased by 5,100 and the employment rate increased by 1.7 percentage points. At the same time the number of unemployed persons fell by 1.900 and the unemployment rate decreased by 1.1 point. The unemployment rate among females was 2.5% and 3.8% among males.

Long term unemployment
Those who have been unemployed for 12 months or more in 1st quarter of 2016 were 400 or 0.2% of the total labour force. In the 1st quarter of 2015 long term unemployed persons were 1.500 or 0.8% of the labour force. This is the lowest number of long term unemployed since the 4th quarter of 2008 when they measured around 200 persons, or 0.1% of the labour force.


Persons are classified as unemployed when they 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.

Average working hours
In the 1st quarter of 2016 average number of person at work in the reference week were 172,600, or 74.1% of the population and 93.7% of all in employment. The average number of working hours of those who were at work was 39.1 hours, 45.2 hours for those in full-time employment and 22.6 hours for those in part-time employment.

Labour market statistics, 1st quarter 2016  - Statistical Series

Statistics

Further Information

For further information please contact 528 1284 , email kannanir@hagstofa.is

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