LU2: Combined rate of time-related underemployment and unemployment in Iceland
Iceland: LU2: Combined rate of time-related underemployment and unemployment was 0.459 in 2020. ◆ Volatile
LU2: Combined rate of time-related underemployment and unemployment in Iceland, 2004–2020
Source: International Labour Organization.
Analysis
Iceland recorded 0.459 for lu2: combined rate of time-related underemployment and unemployment in 2020. That is the lowest value across all 17 years on record.
Compared with earlier readings it is down 19.2% on the previous year and down 94.7% over ten years.
Over the whole period, lu2: combined rate of time-related underemployment and unemployment in Iceland peaked at 8.95 in 2011 and was at its lowest, 0.459, in 2020.
Iceland ranks 48th of 48 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
LU2: Combined rate of time-related underemployment and unemployment in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2004 | 2.82 | — |
| 2005 | 2.63 | -6.7% |
| 2006 | 1.71 | -35.1% |
| 2007 | 1.35 | -20.8% |
| 2008 | 1.05 | -22.6% |
| 2009 | 7.83 | +647.3% |
| 2010 | 8.66 | +10.6% |
| 2011 | 8.95 | +3.3% |
| 2012 | 7.75 | -13.3% |
| 2013 | 6.22 | -19.8% |
| 2014 | 5.36 | -13.9% |
| 2015 | 4.54 | -15.2% |
| 2016 | 2.97 | -34.6% |
| 2017 | 0.526 | -82.3% |
| 2018 | 0.502 | -4.6% |
| 2019 | 0.568 | +13.1% |
| 2020 | 0.459 | -19.2% |
Iceland compared with similar countries
- Iceland's 0.459 is below the median for high income countries, which is 8.03, 6% of the median. (33 countries reporting)
- Iceland's 0.459 is below the median for Europe & Central Asia, which is 8.04, 6% of the median. (32 countries reporting)
Biggest year-on-year movements
Years where LU2: Combined rate of time-related underemployment and unemployment in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2009 | +647.3% | 1.05 | 7.83 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.9 | 1.05 | 7.83 | 6 |
| 2010s | 4.6 | 0.502 | 8.95 | 10 |
| 2020s | 0.459 | 0.459 | 0.459 | 1 |
Countries ranked near Iceland
More work & labour data for Iceland
- Population - Est. & Proj. — Total Population - Both sexes, annual -0.4964 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Male, annual growth -0.4501 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Female, annual growth -0.5492 % change on previous year (2100)
- Population - Est. & Proj. — Rural population, annual growth rate -1.37 % change on previous year (2050)
- Population - Est. & Proj. — Urban population, annual growth rate 0.2312 % change on previous year (2050)
- Population - Est. & Proj. — Urban population 373.77 1000 No (2050)
- Population - Est. & Proj. — Rural population 16.3 1000 No (2050)
- Population - Est. & Proj. — Total Population - Female 169.5 1000 No (2100)
- Population - Est. & Proj. — Total Population - Male 193.08 1000 No (2100)
- Population - Est. & Proj. — Total Population - Both sexes 362.58 1000 No (2100)
Frequently asked questions
- What is lu2: combined rate of time-related underemployment and unemployment in Iceland?
- Lu2: combined rate of time-related underemployment and unemployment in Iceland was 0.459 in 2020, according to International Labour Organization.
- What is the highest lu2: combined rate of time-related underemployment and unemployment recorded in Iceland?
- The highest recorded value was 8.95 in 2011.
- What is the lowest lu2: combined rate of time-related underemployment and unemployment recorded in Iceland?
- The lowest recorded value was 0.459 in 2020.
- How does Iceland rank for lu2: combined rate of time-related underemployment and unemployment?
- Iceland ranks 48th out of 48 countries with data for 2020.
- Is lu2: combined rate of time-related underemployment and unemployment rising or falling in Iceland?
- Over the last ten years it is down 94.7%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from International Labour Organization, published as part of LU2: Combined rate of time-related underemployment and unemployment (previous ILO definition - ICLS13). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 17 observations, free to reuse under ILO Terms of Use (attribution required).
About this data
With the aim of promoting international comparability, statistics presented on ILOSTAT are based on standard international definitions wherever feasible and may differ from official national figures. This series is based on the 13th ICLS definitions. For time series comparability, it includes countries that have implemented the 19th ICLS standards, for which data are also available in the Work Statistics -- 19th ICLS (WORK) database. LU2 represents the share of the labour force that are either in unemployment or time-related underemployment. The term disability, as defined in the International Classification of Functioning, Disability and Health (ICF), is used as an umbrella term, covering impairments, activity limitations, and participation restrictions. For measurement purposes, a person with disability is defined as a person who is limited in the kind or amount of activities that he or she can do because of ongoing difficulties due to a long-term physical condition, mental condition or health problem. For more information, refer to the Disability Labour Market Indicators (DLMI) database description.