Iceland — Unemployment
Unemployment Rate for Iceland, 1991–2025.
Unemployment for Iceland was 3.63% in 2025, according to the latest World Bank data. The series covers 35 years, from 1991 to 2025. The highest recorded value was 7.56% in 2010. The lowest was 1.87% in 2001 (about 1.9× the low point). Across that span the compound annual growth rate works out to 1.04% per year.
Iceland ranks 126 of 187 economies on this measure (1 = highest), putting it in the top 67%. The median for Europe & Central Asia is 5.58%, so Iceland sits below it. It peaked in 2010 and has fallen 52% since. Over the last decade (2015–2025) the figure moved down 9%. Within Europe & Central Asia it ranks 41 of 49 economies; Bulgaria (3.54%) is just below it. Its sharpest one-year move was up 145% in 2009. That is 5% below this series' own ten-year average.
Data highlights
From its 1991 level: doubled by 1993. Doubling roughly every 67 years at that pace.
World ranking. Climbed: 146th of 187 in 1991 → 176th of 187 in 2000 → 85th of 187 in 2010 → 113th of 187 in 2020 → 121st of 182 in 2025.
Key figures
Full history — 1991 to 2025
| Year | % of total labor force | Change |
|---|---|---|
| 2025 | 3.63% | +0.0 pp |
| 2024 | 3.6% | +0.1 pp |
| 2023 | 3.52% | -0.3 pp |
| 2022 | 3.79% | -2.2 pp |
| 2021 | 6.03% | +0.6 pp |
| 2020 | 5.48% | +2.0 pp |
| 2019 | 3.51% | +0.8 pp |
| 2018 | 2.7% | -0.0 pp |
| 2017 | 2.74% | -0.2 pp |
| 2016 | 2.98% | -1.0 pp |
| 2015 | 3.98% | -0.9 pp |
| 2014 | 4.9% | -0.5 pp |
| 2013 | 5.38% | -0.6 pp |
| 2012 | 6% | -1.0 pp |
| 2011 | 7.03% | -0.5 pp |
| 2010 | 7.56% | +0.3 pp |
| 2009 | 7.22% | +4.3 pp |
| 2008 | 2.95% | +0.7 pp |
| 2007 | 2.25% | -0.6 pp |
| 2006 | 2.83% | +0.3 pp |
| 2005 | 2.55% | -1.5 pp |
| 2004 | 4.03% | +0.0 pp |
| 2003 | 4% | +1.0 pp |
| 2002 | 2.99% | +1.1 pp |
| 2001 | 1.87% | -0.1 pp |
| 2000 | 1.94% | -0.2 pp |
| 1999 | 2.18% | -0.9 pp |
| 1998 | 3.07% | -0.7 pp |
| 1997 | 3.72% | +0.1 pp |
| 1996 | 3.6% | -1.6 pp |
| 1995 | 5.2% | -0.1 pp |
| 1994 | 5.33% | +0.1 pp |
| 1993 | 5.26% | +1.0 pp |
| 1992 | 4.31% | +1.8 pp |
| 1991 | 2.55% | — |
Frequently asked questions
What was Iceland’s Unemployment in 1992?
4.31% (1992). The full year-by-year table above lists every published year, most recent first.
Are changes in this series measured in percentage points?
Yes. The series is a share expressed in % of total labor force, so year-over-year movements in the Change column are percentage points (pp), not percent.
Is Iceland’s Unemployment growing or shrinking?
Between 1991 and 2025 the series was growing overall: +42.3% in total — about 1.0% a year compounded.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator SL.UEM.TOTL.ZS. Values are reproduced as published; this page only computes summary statistics such as change, CAGR and extremes.
What are the most recent published figures?
The last five published years: 2025: 3.63%; 2024: 3.6%; 2023: 3.52%; 2022: 3.79%; 2021: 6.03%. Earlier years are in the full-history table below.
Related data
SL.UEM.TOTL.ZS — Unemployment Rate. Data licensed under CC BY 4.0. Values are reproduced as published; this page computes the summary statistics (change, CAGR, extremes) from the underlying annual series. View the original dataset on data.worldbank.org.