NEWS RELEASE LABOUR MARKET 30 OCTOBER 2015

Unemployment rate 3.5%
The number of persons in the labour force in the 3rd quarter of 2015 was 192,800 corresponding to an activity rate of 83.3%. The number of employed persons was 186,000 while unemployed persons were 6,800. The employment rate was 80.4% and the unemployment rate was 3.5%. From the 3rd quarter of 2014 the number of employed persons has increased by 3,200 and the employment rate increased by 1.3 percentage points. At the same time the number of unemployed persons fell by 900 and the unemployment rate decreased by 0.5 points. The unemployment rate among females was 4% and 3.1% among males.

Long term unemployment
Those who have been unemployed for 12 months or more in 3rd quarter of 2015 were 1.400 or 0.7% of the labour force. In the 3rd quarter of 2014 long term unemployment persons were 900 or 0.5% 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.

 

Labour market in 3rd quarter
  2012 2013 2014 2015
  3rd Q 3rd Q 3rd Q 3rd Q Conf.Int. ±
Activity rate 81.3 82.7 82.4 83.3 1.2
Unemployment rate 77.2 79.1 79.1 80.4 1.3
Employment rate 5.0 4.4 4.0 3.5 0.7
Full-time rate 78.5 79.9 79.5 79.3 1.5
Part-time rate 21.5 20.1 20.5 20.7 1.5
Labour force, est. number 181,800 188,500 190,400 192,800 2,700
In employment, est. number 172,700 180,200 182,800 186,000 3,000
Unemployed, est. number 9,100 8,300 7,700 6,800 1,400
Employees est. number 152,000 158,500 159,900 161,900 2,400
Self-employed, est. number 20,700 21,700 22,900 23,700 2,400
Employed full time, est. number 135,600 144,000 145,200 147,600 2,800
Employed part time, est. number 37,100 36,200 37,500 38,400 2,800
Working hours 40.9 41.8 41.1 41.5 0.7
Working hours full time 45.3 45.9 45.3 45.7 0.7
Working hours part time 24.1 24.5 24.3 24.8 1.3
Inactive, est. number 41,800 39,300 40,800 38,500 2,700
Population , est. number 223,700 227,800 231,200 231,300
Figures may not add up because of rounding.

 

Labour market statistics, 3rd quarter 2015 - Statistical Series

Statistics

Further Information

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

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