Tax rate on low wage earners - unemployment trap in Iceland
Iceland: Tax rate on low wage earners - unemployment trap was 85 Rate in 2023. ▲ Rising
Tax rate on low wage earners - unemployment trap in Iceland, 2001–2023
Source: Eurostat. Measured in Rate.
Analysis
Iceland recorded 85 Rate for tax rate on low wage earners - unemployment trap in 2023.
Compared with earlier readings it is down 1.4% over ten years.
Over the whole period, tax rate on low wage earners - unemployment trap in Iceland peaked at 86.2 Rate in 2010 and was at its lowest, 62.4 Rate, in 2001.
That places Iceland 8th out of 44 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently rising across the 23 years of available data.
Tax rate on low wage earners - unemployment trap in Iceland, year by year
| Year | Rate | Change |
|---|---|---|
| 2001 | 62.4 Rate | — |
| 2002 | 64.9 Rate | +4.0% |
| 2003 | 66.2 Rate | +2.0% |
| 2004 | 68.6 Rate | +3.6% |
| 2005 | 66.7 Rate | -2.8% |
| 2006 | 85.2 Rate | +27.7% |
| 2007 | 83.7 Rate | -1.8% |
| 2008 | 81.4 Rate | -2.7% |
| 2009 | 85.4 Rate | +4.9% |
| 2010 | 86.2 Rate | +0.9% |
| 2011 | 86.2 Rate | +0.0% |
| 2012 | 86.2 Rate | +0.0% |
| 2013 | 86.2 Rate | +0.0% |
| 2014 | 84.8 Rate | -1.6% |
| 2015 | 83.7 Rate | -1.3% |
| 2016 | 83.9 Rate | +0.2% |
| 2017 | 84.4 Rate | +0.6% |
| 2018 | 84.4 Rate | +0.0% |
| 2019 | 84.4 Rate | +0.0% |
| 2020 | 85.1 Rate | +0.8% |
| 2021 | 85.2 Rate | +0.1% |
| 2022 | 85 Rate | -0.2% |
| 2023 | 85 Rate | +0.0% |
Iceland compared with similar countries
- Iceland's 85 Rate is above the median for Europe & Central Asia, which is 76.31 Rate, 1.1× the median. (30 countries reporting)
- Iceland's 85 Rate is above the median for high income countries, which is 76.12 Rate, 1.1× the median. (33 countries reporting)
Biggest year-on-year movements
Years where Tax rate on low wage earners - unemployment trap 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 |
|---|---|---|---|
| 2006 | +27.7% | 66.7 Rate | 85.2 Rate |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 73.83 Rate | 62.4 Rate | 85.4 Rate | 9 |
| 2010s | 85.04 Rate | 83.7 Rate | 86.2 Rate | 10 |
| 2020s | 85.08 Rate | 85 Rate | 85.2 Rate | 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 tax rate on low wage earners - unemployment trap in Iceland?
- Tax rate on low wage earners - unemployment trap in Iceland was 85 Rate in 2023, according to Eurostat.
- What is the highest tax rate on low wage earners - unemployment trap recorded in Iceland?
- The highest recorded value was 86.2 Rate in 2010.
- What is the lowest tax rate on low wage earners - unemployment trap recorded in Iceland?
- The lowest recorded value was 62.4 Rate in 2001.
- How does Iceland rank for tax rate on low wage earners - unemployment trap?
- Iceland ranks 8th out of 44 countries with data for 2023.
- Is tax rate on low wage earners - unemployment trap rising or falling in Iceland?
- Over the last ten years it is down 1.4%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Eurostat, published as part of Tax rate on low wage earners - unemployment trap. Statizoid updates them automatically from the source API.
Download this data
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