Iceland Unemployment Rate

Iceland's seasonally adjusted unemployment rate surged to 5.2% in September 2024, from an upwardly revised 2.6% in the previous month, marking the highest reading since October 2021. The number of registered unemployed more than doubled from a month earlier to 12,700. Meanwhile, the employment rate fell to 79.2% from 81.5%, with the number of employed individuals decreasing by 6,800 to 230,600. The labor force participation rate was almost unchanged at 83.5% in September. Moreover, the youth unemployment rate, which measures job-seekers between 16 and 24 years old, rose significantly to 13% from 5.3% in the previous month.