LU2: Combined rate of time-related underemployment and unemployment in Iceland
Iceland: LU2: Combined rate of time-related underemployment and unemployment was 7.2 in 2023. ▲ Rising
LU2: Combined rate of time-related underemployment and unemployment in Iceland, 2000–2023
Source: International Labour Organization.
Analysis
Iceland recorded 7.2 for lu2: combined rate of time-related underemployment and unemployment in 2023.
That represents a change of up 1.8% on the previous year and down 27.1% over ten years.
Over the whole period, lu2: combined rate of time-related underemployment and unemployment in Iceland peaked at 9.87 in 2014 and was at its lowest, 2.74, in 2000.
That places Iceland 61st out of 90 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently rising across the 15 years of available data.
LU2: Combined rate of time-related underemployment and unemployment in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 2.74 | — |
| 2001 | 4.79 | +74.7% |
| 2002 | 6.14 | +28.0% |
| 2006 | 3.97 | -35.3% |
| 2007 | 3.31 | -16.8% |
| 2014 | 9.87 | +198.6% |
| 2015 | 8.69 | -12.0% |
| 2016 | 6.86 | -21.0% |
| 2017 | 6.78 | -1.2% |
| 2018 | 6.32 | -6.8% |
| 2019 | 6.49 | +2.8% |
| 2020 | 9.84 | +51.5% |
| 2021 | 9.54 | -3.0% |
| 2022 | 7.07 | -25.9% |
| 2023 | 7.2 | +1.8% |
Iceland compared with similar countries
- Iceland's 7.2 is below the median for high income countries, which is 8.92, 81% of the median. (45 countries reporting)
- Iceland's 7.2 is below the median for Europe & Central Asia, which is 9.4, 77% of the median. (39 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 |
|---|---|---|---|
| 2014 | +198.6% | 3.31 | 9.87 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.19 | 2.74 | 6.14 | 5 |
| 2010s | 7.5 | 6.32 | 9.87 | 6 |
| 2020s | 8.41 | 7.07 | 9.84 | 4 |
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 7.2 in 2023, 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 9.87 in 2014.
- What is the lowest lu2: combined rate of time-related underemployment and unemployment recorded in Iceland?
- The lowest recorded value was 2.74 in 2000.
- How does Iceland rank for lu2: combined rate of time-related underemployment and unemployment?
- Iceland ranks 61st out of 90 countries with data for 2023.
- Is lu2: combined rate of time-related underemployment and unemployment rising or falling in Iceland?
- Over the last ten years it is down 27.1%. The long-run trend across the full record is rising.
- 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) (15+). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 15 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. Data disaggregated by level of education are provided on the highest level of education completed, classified according to the International Standard Classification of Education (ISCED). Data may have been regrouped from national classifications, which may not be strictly compatible with ISCED. For more information, refer to the Education and Mismatch Indicators (EMI) database description.