Unemployment in July continues to be extremely low, despite having more than doubled year-over-year. According to Statistics Iceland 5,300 people were unemployed in Iceland in July, or 2.5% of the labor pool. The labor participation rate (activity rate) was 82.2%. The Labor Force Survey shows there were 212,900 people aged 16 to 74 in the labor force in July.
Comparison between July 2017 and 2018 shows that while the labor force increased by 11,300, the number of people in employment increased by 8,100, which led to an increase of 3,200 in the number of unemployed. Statistics Iceland notes that it is worth noting that the figures for July 2017 were unusually low, as there were just 2,100 people without work in July 2017.
The number of people who are considered inactive, people who are neither employed nor searching for employment, has not changed significantly year-over-year. In July 2018 were 39,700 compared with 39,500 persons in July 2017. People who are inactive include those who are attending school as well as stay at home mothers as well as people on disability.
Unemployment in July continues to be extremely low, despite having more than doubled year-over-year. According to Statistics Iceland 5,300 people were unemployed in Iceland in July, or 2.5% of the labor pool. The labor participation rate (activity rate) was 82.2%. The Labor Force Survey shows there were 212,900 people aged 16 to 74 in the labor force in July.
Comparison between July 2017 and 2018 shows that while the labor force increased by 11,300, the number of people in employment increased by 8,100, which led to an increase of 3,200 in the number of unemployed. Statistics Iceland notes that it is worth noting that the figures for July 2017 were unusually low, as there were just 2,100 people without work in July 2017.
The number of people who are considered inactive, people who are neither employed nor searching for employment, has not changed significantly year-over-year. In July 2018 were 39,700 compared with 39,500 persons in July 2017. People who are inactive include those who are attending school as well as stay at home mothers as well as people on disability.
