LU3: Combined rate of unemployment and potential labour force in Iceland
Iceland: LU3: Combined rate of unemployment and potential labour force was 6.68 in 2023. ▲ Rising
LU3: Combined rate of unemployment and potential labour force in Iceland, 1999–2023
Source: International Labour Organization.
Analysis
The most recent figure for lu3: combined rate of unemployment and potential labour force in Iceland is 6.68, measured in 2023.
Compared with earlier readings it is down 0.1% on the previous year and down 30.8% over ten years.
Over the whole period, lu3: combined rate of unemployment and potential labour force in Iceland peaked at 10.3 in 2010 and was at its lowest, 3.86, in 2007.
Iceland ranks 59th of 89 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 22 years of available data.
LU3: Combined rate of unemployment and potential labour force in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1999 | 4.68 | — |
| 2000 | 4.9 | +4.7% |
| 2001 | 5.77 | +17.8% |
| 2002 | 6.64 | +15.0% |
| 2006 | 4.44 | -33.2% |
| 2007 | 3.86 | -12.9% |
| 2008 | 4.83 | +24.9% |
| 2009 | 9.79 | +103.0% |
| 2010 | 10.3 | +5.1% |
| 2011 | 10.04 | -2.5% |
| 2012 | 10.16 | +1.3% |
| 2013 | 9.64 | -5.1% |
| 2014 | 9.14 | -5.2% |
| 2015 | 8.43 | -7.8% |
| 2016 | 6.95 | -17.6% |
| 2017 | 6.36 | -8.4% |
| 2018 | 5.22 | -18.0% |
| 2019 | 6.15 | +18.0% |
| 2020 | 9.1 | +47.9% |
| 2021 | 9.8 | +7.7% |
| 2022 | 6.68 | -31.8% |
| 2023 | 6.68 | -0.1% |
Iceland compared with similar countries
- Iceland's 6.68 is below the median for high income countries, which is 7.45, 90% of the median. (46 countries reporting)
- Iceland's 6.68 is below the median for Europe & Central Asia, which is 8.71, 77% of the median. (41 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.68 | 4.68 | 4.68 | 1 |
| 2000s | 5.75 | 3.86 | 9.79 | 7 |
| 2010s | 8.24 | 5.22 | 10.3 | 10 |
| 2020s | 8.06 | 6.68 | 9.8 | 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 lu3: combined rate of unemployment and potential labour force in Iceland?
- Lu3: combined rate of unemployment and potential labour force in Iceland was 6.68 in 2023, according to International Labour Organization.
- What is the highest lu3: combined rate of unemployment and potential labour force recorded in Iceland?
- The highest recorded value was 10.3 in 2010.
- What is the lowest lu3: combined rate of unemployment and potential labour force recorded in Iceland?
- The lowest recorded value was 3.86 in 2007.
- How does Iceland rank for lu3: combined rate of unemployment and potential labour force?
- Iceland ranks 59th out of 89 countries with data for 2023.
- Is lu3: combined rate of unemployment and potential labour force rising or falling in Iceland?
- Over the last ten years it is down 30.8%. 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 LU3: Combined rate of unemployment and potential labour force (previous ILO definition - ICLS13) (15+). Statizoid updates them automatically from the source API.
Download this data
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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. LU3 represents the share of the extended labour force that are in unemployment or the potential labour force. 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.