According to the Icelandic Labour Force Survey the number of persons in the labour force in December 2015 was 188,500. Of those in the labour force 184,500 persons were employed and 3,600 persons were unemployed. The activity rate was 81%, the employment rate was 79.4% and the unemployment rate was 1.9%. The unemployment rate has not been lower since November 2007 when the unemployment rate was 1.3%. Comparison between December 2014 and 2015 shows an increase both in activity and employment but decrease in unemployment. The activity rate increased by one percentage point or by 4.800 persons. The employment rate increased by 2.9 points or by 9.100 persons and the unemployment rate decreased by 2.4 points or by 4.300 persons.

Figure 1. Labour force December 2015

Figures July not add up because of rounding

Seasonally adjusted unemployment was 2.3% in December 2015
The seasonally adjusted data shows that in December 2015 the number of people in the labour force was 190,400 which correspond to 82.4% activity rate, which is 0.8 points lower than it was in November. The employment rate was 80.5% and has increased by 0.9 points since November. The unemployment rate was 2.3% in December compared to 4.3% in November. The trend line for the last 12 months shows that the number of unemployed persons has decreased by 1,300 while the number of employed persons increased by 4,300.


Implementation
December 2015 is divided into four weeks, from 30th of November to 27th of December. The total sample size was 1,213 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 1,188 persons. In total the number of usable answers was 891 which correspond to 75.1% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.5 point, employment rate is ±2.6 points and unemployment rate is ±1 point. Figures may not add up because of rounding.

Table 1. Labour market in October - Original
    CI   CI   CI
  2013 (±95%) 2014 (±95%) 2015 (±95%)
Total 16-74 years            
Activity rate 80.9 2.5 80.0 2.5 81.0 2.5
Employment rate 77.3 2.6 76.6 2.7 79.4 2.6
Unemployment rate 4.4 1.5 4.3 1.5 1.9 1
Hours of work 37.3 1.4 36.9 1.4 37.7 1.3
Labour force 185,100 5,600 183,700 5,800 188,500 5,900
Employed 176,900 6,000 175,800 6,200 184,900 6,100
Unemployed 8,200 2,700 7,900 2,800 3,600 1,900
Inactive 43,800 5,600 45,900 5,800 44,200 5,900
Est. population 229,000 229,600 232,700

Table 2. Labour market last 6 months - Seasonal adjustment
  Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15
Total 16-74 years            
Activity rate 81.8 83.3 82.8 82.0 83.2 82.4
Employment rate 78.5 80.0 79.3 78.7 79.6 80.5
Unemployment rate 4.1 4.0 4.2 4.1 4.3 2.3
Hours of work 40.2 40.0 40.3 40.5 40.2 40.3
Labour force 189,200 192,000 190,300 190,400 194,700 190,400
Employed 181,400 184,200 182,300 182,700 186,300 186,100
Unemployed 7,800 7,700 8,000 7,800 8,400 4,300
Inactive 42,000 38,400 39,500 41,800 39,300 40,700
Est. population 231,200 230,300 229,800 232,200 234,000 231,100
Table 3. Labour market last 6 months - Seasonal adjustment trend
  Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15
Total 16-74 years            
Activity rate 82.8 82.7 82.5 82.5 82.5 82.6
Employment rate 79.6 79.5 79.3 79.3 79.5 79.6
Unemployment rate 3.9 3.9 3.9 3.8 3.7 3.6
Hours of work 40.1 40.2 40.2 40.3 40.3 40.3
Labour force 191,100 190,800 190,800 191,100 191,900 192,500
Employed 183,600 183,400 183,400 183,900 184,800 185,600
Unemployed 7,500 7,500 7,400 7,300 7,100 6,900
Inactive 39,600 39,900 40,400 40,700 40,700 40,600
Est. population 230,700 230,800 231,100 231,800 232,600 233,100

Statistics