Unemployment was 3.2% in April in a slight rise from the 2.9% recorded in the first quarter of the year, according to data from Statistics Iceland. More than half of those unemployed are 16-24 years old. In the last sixth months, the rate of unemployment has gone down by 0.4 percentage points.
In April and May, the supply of young people in the labour force usually increases as students start to look for summer jobs. Of total unemployment in April 2017, 52% were in the age group 16-24 years old and the unemployment rate amongst them was 9.7%.
Activty rate decreases, even though number of persons in the labour force increases
The data further shows that the number of people in the labour force, aged 16-74, was 199,300 in April, which equates to an 83.2% labour participation rate. Of the total number of the labour force, only 3.2% or 6,400 were unemployed.
Of those in the labour force, 192,900 persons were employed and the employment rate was 80.5%. Comparison between April 2016 and 2017 shows that even though the number of persons in the labour force increased by 3,500, the activity rate decreased by 0.6 percentage points of the total population.
Number of employed increased by 6,600 persons and the employment rate increased by 0.8 percentage points. Number of unemployed decreased by 3,100 persons and the unemployment rate decreased by 1.6 percentage points.
Unemployment was 3.2% in April in a slight rise from the 2.9% recorded in the first quarter of the year, according to data from Statistics Iceland. More than half of those unemployed are 16-24 years old. In the last sixth months, the rate of unemployment has gone down by 0.4 percentage points.
In April and May, the supply of young people in the labour force usually increases as students start to look for summer jobs. Of total unemployment in April 2017, 52% were in the age group 16-24 years old and the unemployment rate amongst them was 9.7%.
Activty rate decreases, even though number of persons in the labour force increases
The data further shows that the number of people in the labour force, aged 16-74, was 199,300 in April, which equates to an 83.2% labour participation rate. Of the total number of the labour force, only 3.2% or 6,400 were unemployed.
Of those in the labour force, 192,900 persons were employed and the employment rate was 80.5%. Comparison between April 2016 and 2017 shows that even though the number of persons in the labour force increased by 3,500, the activity rate decreased by 0.6 percentage points of the total population.
Number of employed increased by 6,600 persons and the employment rate increased by 0.8 percentage points. Number of unemployed decreased by 3,100 persons and the unemployment rate decreased by 1.6 percentage points.
