According to the Icelandic Labour Force Survey the number of persons in the labour force in February 2016 was 194,200. Of those in the labour force 188,300 persons were employed and 5,900 persons were unemployed. The activity rate was 82.3%, the employment rate was 79.8% and the unemployment rate was 3.1%. Comparison between February 2015 and 2016 shows an increase both in activity and employment, and decrease in unemployment. The activity rate increased by 1.5 percentage points or by 7.300 persons. The employment rate increased by 2.6 points or by 9.800 persons and the unemployment rate decreased by 1.4 points or by 2.500 persons.
Figure 1. Labour force February 2016
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 3.2% in February 2016
According to the seasonal adjustment the estimated number of people in the labour force was 196,700 in February 2016, which correspond to 83% activity rate and is almost the same as it was in January 2016. The employment rate was 80.4% and decreased by 0.6 points between January and February. The unemployment rate was 3.2% in February compared to 2.6% in January. The trend line for the last six months shows that the number of unemployed persons has decreased by 1,200 while the number of employed persons increased by 5,700.
Implementation
February 2016 is divided into four weeks, from 1st to 28th of February. The total sample size was 1,222 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 1,176 persons. In total the number of usable answers was 867 which correspond to 73.7% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.6 points, employment rate is ±2.6 points and unemployment rate is ±1.3 points. Figures may not add up because of rounding.
All numbers for the first two months in every quarter of the year are preliminary until the end of the quarter.
| Table 1. Labour market in February - Original | ||||||
| CI | CI | CI | ||||
| 2014 | (±95%) | 2015 | (±95%) | 2016 | (±95%) | |
| Total 16-74 years | ||||||
| Activity rate | 79.0 | 2.5 | 80.8 | 2.5 | 82.3 | 2.5 |
| Employment rate | 75.6 | 2.7 | 77.2 | 2.7 | 79.8 | 2.6 |
| Unemployment rate | 4.3 | 1.5 | 4.5 | 1.5 | 3.1 | 1.3 |
| Hours of work | 39.1 | 1.2 | 39.7 | 1.3 | 40.0 | 1.3 |
| Labour force | 181,200 | 5,800 | 186,900 | 5,700 | 194,200 | 5,800 |
| Employed | 173,400 | 6,200 | 178,500 | 6,200 | 188,300 | 6,200 |
| Unemployed | 7,800 | 2,700 | 8,400 | 2,900 | 5,900 | 2,600 |
| Inactive | 48,000 | 5,800 | 44,400 | 5,700 | 41,800 | 5,800 |
| Est. population | 229,200 | • | 231,300 | • | 236,000 | • |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| Sep-15 | Oct-15 | Nov-15 | Dec-15 | Jan-16 | Feb-16 | |
| Total 16-74 years | ||||||
| Activity rate | 82.8 | 82.0 | 83.2 | 82.4 | 83.1 | 83.0 |
| Employment rate | 79.3 | 78.7 | 79.6 | 80.5 | 80.9 | 80.4 |
| Unemployment rate | 4.2 | 4.1 | 4.3 | 2.2 | 2.6 | 3.2 |
| Hours of work | 40.4 | 40.5 | 40.3 | 40.4 | 40.7 | 40.4 |
| Labour force | 190,600 | 190,400 | 194,900 | 191,300 | 196,800 | 196,700 |
| Employed | 182,600 | 182,700 | 186,500 | 187,100 | 191,700 | 190,400 |
| Unemployed | 8,000 | 7,700 | 8,400 | 4,200 | 5,200 | 6,200 |
| Inactive | 39,500 | 41,700 | 39,300 | 41,000 | 40,000 | 40,200 |
| Est. population | 230,100 | 232,100 | 234,100 | 232,300 | 236,800 | 236,900 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| Sep-15 | Oct-15 | Nov-15 | Dec-15 | Jan-16 | Feb-16 | |
| Total 16-74 years | ||||||
| Activity rate | 82.6 | 82.6 | 82.7 | 82.8 | 82.8 | 82.8 |
| Employment rate | 79.4 | 79.6 | 79.8 | 80.0 | 80.2 | 80.3 |
| Unemployment rate | 3.8 | 3.7 | 3.5 | 3.3 | 3.2 | 3.1 |
| Hours of work | 40.3 | 40.3 | 40.4 | 40.4 | 40.4 | 40.4 |
| Labour force | 191,100 | 191,600 | 192,800 | 194,000 | 195,000 | 195,600 |
| Employed | 183,800 | 184,500 | 186,000 | 187,600 | 188,800 | 189,500 |
| Unemployed | 7,300 | 7,100 | 6,800 | 6,400 | 6,200 | 6,100 |
| Inactive | 40,300 | 40,300 | 40,200 | 40,400 | 40,500 | 40,500 |
| Est. population | 231,500 | 231,900 | 233,000 | 234,400 | 235,500 | 236,100 |