Unemployment rate in Iceland
Iceland: Unemployment rate was 2.56 in 2016. ◆ Volatile
Unemployment rate in Iceland, 2004–2016
Source: International Labour Organization.
Analysis
In 2016, unemployment rate in Iceland stood at 2.56.
That represents a change of down 33.7% on the previous year and up 70.0% over ten years.
Over the whole period, unemployment rate in Iceland peaked at 7.79 in 2011 and was at its lowest, 0.836, in 2008.
Iceland ranks 52nd of 58 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Unemployment rate in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2004 | 2.15 | — |
| 2005 | 2.19 | +2.0% |
| 2006 | 1.5 | -31.5% |
| 2007 | 1.05 | -29.9% |
| 2008 | 0.836 | -20.6% |
| 2009 | 6.9 | +725.6% |
| 2010 | 7.63 | +10.5% |
| 2011 | 7.79 | +2.2% |
| 2012 | 6.85 | -12.2% |
| 2013 | 5.59 | -18.3% |
| 2014 | 4.71 | -15.8% |
| 2015 | 3.86 | -18.1% |
| 2016 | 2.56 | -33.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.44 | 0.836 | 6.9 | 6 |
| 2010s | 5.57 | 2.56 | 7.79 | 7 |
Countries ranked near Iceland
- 49 Indonesia 3.31 compare
- 50 Cambodia 3.27 compare
- 51 Seychelles 2.58
- 53 Tanzania, United Republic of 2.43 compare
- 54 Côte d'Ivoire 2.31 compare
- 55 Togo 1.97 compare
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 rate in Iceland?
- Unemployment rate in Iceland was 2.56 in 2016, according to International Labour Organization.
- What is the highest unemployment rate recorded in Iceland?
- The highest recorded value was 7.79 in 2011.
- What is the lowest unemployment rate recorded in Iceland?
- The lowest recorded value was 0.836 in 2008.
- How does Iceland rank for unemployment rate?
- Iceland ranks 52nd out of 58 countries with data for 2016.
- Is unemployment rate rising or falling in Iceland?
- Over the last ten years it is up 70.0%. 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 rate (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 unemployment rate conveys the number of persons who are unemployed as a percent of the labour force (i.e., the employed plus the unemployed). 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.