According to the Icelandic Labour Force Survey the number of persons in the labour force in July 2015 was 197,500. Of those in the labour force 191,200 persons were employed and 6,300 persons were unemployed. The activity rate was 84.5%, the employment rate was 81.8% and the unemployment rate was 3.2%. Between July 2014 and 2015, the activity rate decreased by 0.5 percentage points. The employment rate decreased by 0.3 points and the unemployment was approximately the same as in July 2014.

Figure 1. Labour force July 2015


Figures may not add up because of rounding.


Seasonally adjusted unemployment was 4.3% in July
The seasonally adjusted data show that the number of people in the labour force was 190,600 in July 2015 corresponding to 81.9% activity rate. The number of unemployed persons, in July 2015, amounted to 8,100 and had increased by 1,800 since June. The unemployment rate was 4.3% in July compared to 3.3% in June. According to the seasonal adjustment the employment rate was 78.4% in July. Between June and July, the employment rate decreased by two points and the unemployment rate increased by one point. Even though the unemployment rate increased between June and July, the trend for seasonally adjusted data in the last six months shows a decrease by 0.2 percentage points in the unemployment rate and 0.7 points decrease for the last 12 months. The employment rate has increased by 0.6 points in the last six months and by one point in the last 12 months.

Implementation
July 2015 is divided into five weeks, from 30th of June to 2nd of August. The total sample size was 1,528 persons, 16–74 years, randomly chosen from the Population Register. When those who had passed away and those who were living abroad had been deducted from the sample, the net sample was 1,487 persons. In total the number of usable answers was 1,147 corresponding to 77.1% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.0 points, employment rate is ±2.2 points and unemployment rate is ±1.1 points. Figures may not add up because of rounding.

Table 1. Labour market in July - Original
    CI   CI   CI
  2013 (±95%) 2014 (±95%) 2015 (±95%)
Total 16-74 years            
Activity rate 84.0 2,3 85.0 2 84.5 2
Employment rate 81.0 2,4 82.2 2,1 81.8 2,2
Unemployment rate 3.6 1,3 3.3 1,1 3.2 1,1
Hours of work 43.3 1,4 42.0 1,2 43.1 1,3
Labour force 191,100 5,200 196,000 4,600 197,500 4,800
Employed 184,100 5,600 189,600 4,900 191,200 5,100
Unemployed 6,900 2,500 6,400 2,200 6,300 2,200
Inactive 36,400 5,200 34,700 4,600 36,200 4,800
Est. population 227,400 230,600 233,600

 

Table 2. Labour market last 6 months - Seasonal adjustment
  Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Total 16-74 years            
Activity rate 82.5 82.7 82.2 82.9 83.1 81.9
Employment rate 78.6 79.6 78.5 79.4 80.4 78.4
Unemployment rate 4.6 3.8 4.5 4.2 3.3 4.3
Hours of work 39.9 39.9 39.8 40.0 40.1 40.2
Labour force 192,000 191,400 191,700 193,500 190,600 190,600
Employed 183,100 184,000 183,100 185,500 184,300 182,400
Unemployed 8,900 7,300 8,600 8,000 6,300 8,100
Inactive 40,800 39,900 41,400 40,000 38,700 42,200
Est. population 232,800 231,300 233,100 233,500 229,300 232,800

 

Table 3. Labour market last 6 months - Seasonal adjustment trend
  Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15
Total 16-74 years            
Activity rate 81.9 82.1 82.2 82.4 82.4 82.4
Employment rate 78.4 78.6 78.8 79.0 79.0 79.0
Unemployment rate 4.3 4.2 4.2 4.1 4.1 4.1
Hours of work 40.0 40.0 40.0 40.0 40.0 40.0
Labour force 190,200 191,000 191,500 191,800 191,900 191,800
Employed 182,100 182,900 183,500 183,900 184,000 183,900
Unemployed 8,100 8,000 8,000 7,900 7,900 7,900
Inactive 41,900 41,700 41,300 41,100 41,000 41,000
Est. population 232,100 232,600 232,800 232,800 232,800 232,700

Statistics