Iceland Unemployment Rate

Iceland’s seasonally adjusted unemployment rate climbed to 5.5% in February 2025 from an upwardly revised 4.9% in the previous month. This marked the highest jobless rate since October 2021, as the number of unemployed persons increased by 1,500 month-on-month to 12,900. Of these, 5,800 were unemployed men and 7,100 were women. The youth unemployment rate, which measures job-seekers between 16 and 24 years old, increased to 12.6% from 9.6% in January. Meanwhile, employment decreased by 1,000 from the previous month, totaling 220,800. The labor force participation rate eased to 80.4% in February 2025 from 81.4% in the previous month.