Iceland’s unemployment rate rises to 5.2% in September with 12,700 individuals affected

Iceland’s unemployment rate stood at 5.2% in September, translating to approximately 12,700 individuals, according to seasonally adjusted figures from Statistics Iceland’s labor market survey. The agency also reported that the employment rate was 79.2%, while labor force participation remained at 83.5%.

There has been a notable increase in seasonally adjusted unemployment, which doubled from the previous month. The employment rate saw a decline of 2.3%, yet labor force participation remained nearly unchanged.

In comparison to earlier measurements, the shift in the labor force is evident, with the recorded unemployment at 4.6% previously, seasonally adjusted at 5.2%, and trends indicating 3.4%.