Unemployment in Iceland
Iceland: Unemployment was 4.17 in 2016. ◆ Volatile
Unemployment in Iceland, 2004–2016
Source: International Labour Organization.
Analysis
The most recent figure for unemployment in Iceland is 4.17, measured in 2016.
The figure is down 31.0% on the previous year and up 86.6% over ten years.
Over the whole period, unemployment in Iceland peaked at 11.55 in 2011 and was at its lowest, 1.33, in 2008.
That places Iceland 57th out of 58 countries with data for 2016, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Unemployment in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2004 | 3.21 | — |
| 2005 | 3.41 | +6.1% |
| 2006 | 2.23 | -34.5% |
| 2007 | 1.62 | -27.2% |
| 2008 | 1.33 | -18.0% |
| 2009 | 10.95 | +722.3% |
| 2010 | 11.4 | +4.1% |
| 2011 | 11.55 | +1.3% |
| 2012 | 10.05 | -12.9% |
| 2013 | 8.48 | -15.7% |
| 2014 | 7.22 | -14.8% |
| 2015 | 6.04 | -16.3% |
| 2016 | 4.17 | -31.0% |
Iceland compared with similar countries
- Iceland's 4.17 is below the median for high income countries, which is 266.61, 2% of the median. (36 countries reporting)
- Iceland's 4.17 is below the median for Europe & Central Asia, which is 266.61, 2% of the median. (34 countries reporting)
Biggest year-on-year movements
Years where 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 | +722.3% | 1.33 | 10.95 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.79 | 1.33 | 10.95 | 6 |
| 2010s | 8.41 | 4.17 | 11.55 | 7 |
Countries ranked near Iceland
- 54 Cyprus 32.42 compare
- 55 Luxembourg 18.44 compare
- 56 Moldova 18.27
- 58 Seychelles 1.33
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 unemployment in Iceland?
- Unemployment in Iceland was 4.17 in 2016, according to International Labour Organization.
- What is the highest unemployment recorded in Iceland?
- The highest recorded value was 11.55 in 2011.
- What is the lowest unemployment recorded in Iceland?
- The lowest recorded value was 1.33 in 2008.
- How does Iceland rank for unemployment?
- Iceland ranks 57th out of 58 countries with data for 2016.
- Is unemployment rising or falling in Iceland?
- Over the last ten years it is up 86.6%. 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 Unemployment (previous ILO definition - ICLS13). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 13 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. The unemployed comprise all persons of working age who were: a) without work during the reference period, i.e. were not in paid employment or self-employment; b) currently available for work, i.e. were available for paid employment or self-employment during the reference period; and c) seeking work, i.e. had taken specific steps in a specified recent period to seek paid employment or self-employment. 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.