According to seasonally adjusted estimates from the Icelandic Labour Force Survey, the number of people in the labour force was 209,900 in May 2019. This corresponds to an 81.1% activity rate, which is 1.3 percentage points higher than in April. The seasonally adjusted number of unemployed persons in May 2019 was estimated to be 10,000 or 4.7%, an increase of 1.5 percentage points from April. The seasonally adjusted employment rate for May was 77.2%, which is a decrease of 2.5 percentage points from the month before.
The seasonally adjusted trend over the last six months shows that the activity rate is at a standstill. But there is a decrease in the employment rate by 0.5 percentage points and the unemployment rate increased by 0.6 percentage points.
The unadjusted measures from the Icelandic Labour Force Survey show that 210,200 persons 16 to 74 years old belonged to the labour force in May 2019, setting the activity rate at 82.4% (±2.1). Thereof, 197,500 (±6,000) persons were employed and 12,700 (±3,400) persons were unemployed. The employment rate was 77.4% (±2.3) and the unemployment rate was 6.1% (±1.6).
Comparing May 2018 and 2019 shows that the number of people in the labour force increased by 5,700, while the activity rate decreased by 0.3 percentage points. The number of employed persons decreased by 800 and the rate decreased by 2.3 percentage points.
The number of unemployed increased by 6,500 in May 2019 compared with May 2018 when the number of unemployed was 6,200 or 3.0% of the labour force. In total, there were 44,900 inactive persons in the population in May 2019 compared to 42,700 in May 2018.
Figures may not add up because of rounding. CI (95%) Unemployment rate: Total ±1.6; males ±2.5; females ±2.0.
About the data
May 2019 is divided into five weeks, from April 29th to June 2nd 2019. The total sample size for the Labour Force Survey in May was 1,917 persons 16–74 years old who were randomly selected from the registered population. When individuals out of scope had been removed from the sample, the net sample was 1,867 persons. In total, the number of responses was 1,173 individuals corresponding to a response rate of 62.8%.
It should be noted that all numbers are rounded to the nearest hundred, and results are weighted by sex and age groups. All numbers for May 2019 are preliminary until the end of the 2nd quarter.
| Table 1. Labour market in May — Original | ||||||
| CI | CI | CI | ||||
| 2017 | (±95%) | 2018 | (±95%) | 2019 | (±95%) | |
| Total 16–74 years | ||||||
| Activity rate | 84.7 | 2,4 | 82.7 | 2 | 82.4 | 2,1 |
| Employment rate | 80.4 | 2,7 | 80.2 | 2,2 | 77.4 | 2,3 |
| Unemployment rate | 5.1 | 1,8 | 3.0 | 1,2 | 6.1 | 1,6 |
| Hours of work | 41.9 | 1,4 | 39.7 | 1,2 | 40.7 | 1 |
| Labour force | 203,300 | 5,700 | 204,500 | 5,000 | 210,200 | 5,200 |
| Employed | 193,000 | 6,500 | 198,300 | 5,400 | 197,500 | 6,000 |
| Unemployed | 10,300 | 3,800 | 6,200 | 2,600 | 12,700 | 3,400 |
| Inactive | 36,600 | 5,700 | 42,700 | 5,000 | 44,900 | 5,200 |
| Est. population | 239,900 | • | 247,200 | • | 255,100 | • |
| Table 2. Labour market last 6 months — seasonal adjustment | ||||||
| Dec-18 | Jan-19 | Feb-19 | Mar-19 | Apr-19 | May-19 | |
| Total 16–74 years | ||||||
| Activity rate | 80.9 | 82.5 | 80.8 | 82.7 | 82.4 | 81.1 |
| Employment rate | 79.5 | 80.1 | 78.1 | 80.1 | 79.8 | 77.2 |
| Unemployment rate | 1.7 | 2.9 | 3.3 | 3.1 | 3.2 | 4.7 |
| Hours of work | 38.9 | 40.1 | 39.2 | 39.4 | 40.0 | 39.6 |
| Labour force | 204,600 | 208,100 | 207,100 | 209,600 | 209,100 | 209,900 |
| Employed | 201,200 | 202,000 | 200,200 | 203,100 | 202,400 | 200,000 |
| Unemployed | 3,400 | 6,100 | 6,900 | 6,500 | 6,700 | 10,000 |
| Inactive | 48,400 | 44,200 | 49,300 | 43,900 | 44,700 | 49,000 |
| Est. population | 253,000 | 252,300 | 256,300 | 253,500 | 253,800 | 258,900 |
| Table 3. Labour market last 6 months — seasonal adjustment trend | ||||||
| Dec-18 | Jan-19 | Feb-19 | Mar-19 | Apr-19 | May-19 | |
| Total 16–74 years | ||||||
| Activity rate | 81.8 | 81.9 | 81.9 | 81.9 | 81.9 | 81.9 |
| Employment rate | 79.5 | 79.4 | 79.3 | 79.2 | 79.1 | 79.0 |
| Unemployment rate | 2.9 | 3.0 | 3.1 | 3.2 | 3.4 | 3.5 |
| Hours of work | 39.3 | 39.4 | 39.5 | 39.6 | 39.6 | 39.6 |
| Labour force | 207,500 | 208,000 | 208,200 | 208,200 | 208,100 | 208,000 |
| Employed | 201,500 | 201,800 | 201,700 | 201,400 | 201,100 | 200,800 |
| Unemployed | 5,900 | 6,200 | 6,500 | 6,800 | 7,000 | 7,300 |
| Inactive | 46,100 | 46,100 | 46,100 | 46,100 | 46,100 | 46,100 |
| Est. population | 253,600 | 254,100 | 254,300 | 254,300 | 254,200 | 254,100 |