The main results of the Labour Force Survey for the third quarter of 2022 show little, but positive, change in the position of the labour force on the Icelandic labour market from the previous year.
Increased employment rate
The proportion of the population aged 16 to 74 years on the labour market (activity rate) was 79.8% in the third quarter of 2022, which is the same as it was in the same quarter in 2021. The total number of employed in the third quarter of 2022 was 210,400 and the employment rate of the population 77.1%. Comparison between the third quarter of 2021 and the third quarter of 2022 shows that the number of employed increased by 7,300 and the employment rate increased by 0.5 percentage points. The number of employed women increased by 2,900 and men by 4,300. The employment rate for women was measured at 73.7% and for men at 80.3% in the third quarter of 2022.
The employment rate in the Capital region was 77.9% and outside the Capital region the rate was 75.8%. In comparison, the proportion of employed people in the Capital region was 77.9% and 74.3% outside the Capital region in the third quarter of 2021.
Decreased unemployment rate
The average number of persons in unemployment in the third quarter of 2022 was 7,300 persons, or 3.4% of the labour force 16 to 74 years old. In comparison, 8,500 persons were unemployed in the third quarter of 2021 and the unemployment rate was 4.0%.
In the third quarter of 2022, women's unemployment was measured at 3.5% and had decreased by 1.1 percentage points from the third quarter of 2021. In the same period, male unemployment decreased from 3.5% to 3.3% or by 0.2 percentage points. Within the age group 16 to 24 years, the unemployment rate was 4.0%, which is nearly the same as it was in the same quarter of 2021. Over the period, unemployment among 25 to 54-year olds decreased by 0.6 percentage points, from 4.2% to 3.6%. Unemployment also decreased among those aged 55 to 74 years, or by 1.5 percentage points, from 3.5% in the third quarter of 2021 down to 2.0% in the third quarter of 2022.