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Unemployment rate 6.8% in Iceland Featured

The number of persons in the labour force in the 2nd quarter of 2013 was 188,300 which correspond to an activity rate of 83.3%. The number of employed persons was 175,500 and unemployed persons were 12,900. The employment rate was 77.6% and the unemployment rate was 6.8%. 

From the 2nd quarter of 2012 the number of employed persons increased by 3,300 and the number of unemployed persons decreased by 400. The unemployment rate among females was 6.2% and 7.4% among males. The average number of working hours of those who were working in the reference week was 40.5 hours, 45.2 hours for those in full-time employment and 23.4 hours for those in part-time employment.

Long-term unemployment
For the last four quarters number of long term unemployed has decreased. Those who have been unemployed for 12 months or more were 2.000 or 1.1% of the labour force. In the 1st quarter of 2012 long term unemployment persons were 2.600 and 3.300 in the 3rd quarter of 2012.

Persons are classified as unemployed who have no employment, are actively seeking a job and could start working within two weeks or have found a job which starts within 3 months. Students who are not employed and fulfil this criteria are considered unemployed. People are classified as working (employed) if they worked one hour or more in the reference week or were absent from work they usually carry out.

Implementation of the Labour Force Survey
The 2nd quarter of 2013 covers 13 weeks, from 1st of April to 1st of July 2013. The total sample size was 3,937 persons aged 16–74 years old selected randomly from the National registry. When those who had passed away or those who were living abroad had been deducted from the sample the net sample was 3,840 persons. In total the number of usable answers was 3,103 which correspond to 80.8% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±1.2%, employment rate is ±1.3%, unemployment rate is ±0.9% and working hours is ±0.7 hours.

 

Source: Statistics Iceland

 

Last modified on Wednesday, 14 August 2013 14:22

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