Unemployment in Iceland falls to 2.6% in July as employment rate rises

Unemployment in Iceland stood at 2.6% in July, according to the latest labor market survey by Statistics Iceland. This translates to approximately 6,200 individuals without employment.

These figures are seasonally adjusted, showing a decrease of 0.3 percentage points from the previous month, along with a 1.3 percentage point increase in the employment rate. Compared to July of the previous year, unemployment has decreased by a full percentage point.

The employment rate last month reached 80.7%, while the participation rate in the labor force was 82.9%. Both rates saw improvements, with the employment rate rising by 1.3 percentage points and participation increasing by 1.1 percentage points.