Unemployment in Iceland

Iceland Unemployment | Economic News & Forecasts

Iceland - Unemployment

After suffering the second-sharpest contraction on record in Q2, the economy started to show tentative signs of recovery towards the end of Q3. Consumer confidence shot up in September from August’s near-decade low, while exports rebounded strongly in the same month to their highest value since October 2019. However, the unemployment rate ticked up to a four-month high in September, likely capping private consumption. Moreover, overnight stays decreased at a sharper rate in September than in August, pointing to a still-subdued tourism sector. Turning to Q4, new Covid-19-related restrictions were implemented in early October due to a rapid surge in new cases, which will likely hamper economic activity in the quarter. Meanwhile, on the political front, on 1 October, the government tabled the 2021 draft budget, which focuses on improving healthcare, welfare and education, while easing the tax burden.

Iceland - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate4.0  3.0  2.8  2.7  3.5  

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Iceland Unemployment Chart


Iceland Unemployment
Note: Unemployment in % of active population.
Source: Statistics Iceland.

Iceland Facts

Value Change Date
Bond Yield3.45-0.99 %Dec 31
Exchange Rate121.1-0.52 %Jan 01

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