Only 1% of the labour force was unemployed in July, brining the unemployment rate to its lowest level since at least 2003 when Statistics Iceland began its current continious labour force survey.
Unemployment down 1% since July 2016
According to the Icelandic Labour Force Survey which Statistics Iceland conducts each month, the number of persons in the labour force in July 2017 was 201,900. The labour force participation was 83.3%. While the labour participation rate has decrased slightly, it is still very high in international comparison.
Of those in the labour force 199,800 persons were employed and 2,100 persons or 1% were unemployed.
Comparison between July 2016 and 2017 shows that the labour force participation rate decreased slightly, from 85.8% to 83.3%, or by 2.5 points. The number of employed increased by 1,900 since July 2016 when the unemployment rate was 2%. The number of people not in the labour force increased as well, as inactive people were 40,400 in July, having increased by 6,900 since July 2016 when they were 33,500.
Only 1% of the labour force was unemployed in July, brining the unemployment rate to its lowest level since at least 2003 when Statistics Iceland began its current continious labour force survey.
Unemployment down 1% since July 2016
According to the Icelandic Labour Force Survey which Statistics Iceland conducts each month, the number of persons in the labour force in July 2017 was 201,900. The labour force participation was 83.3%. While the labour participation rate has decrased slightly, it is still very high in international comparison.
Of those in the labour force 199,800 persons were employed and 2,100 persons or 1% were unemployed.
Comparison between July 2016 and 2017 shows that the labour force participation rate decreased slightly, from 85.8% to 83.3%, or by 2.5 points. The number of employed increased by 1,900 since July 2016 when the unemployment rate was 2%. The number of people not in the labour force increased as well, as inactive people were 40,400 in July, having increased by 6,900 since July 2016 when they were 33,500.
