The Icelandic labour market in January 2024


The unemployment rate in January was 3,8%, up from 3,6% in December.

There were on average 7.340 unemployed persons in January 2024.

Unemployment by gender:

The unemployment rate for men in January was 3,8%, up from 3,7% in December. The unemployment rate for women was 3,7% in January, up from 3,4% in December.

Unemployment among young adults:

There were 825 young adults, aged 18-24 years unemployed in January 2024, up from 720 in December.

Long-term unemployment

There were 1.195 long-term unemployed (unemployed longer than 12 months) at the end of January 2024. In December there were 1.127 long-term unemployed.

 Foreign workers:

There were 323 work permits issued in January 2024.

There were 43 foreign service companies registered at The Directorate of Labour in January 2024, posting 277 workers.

There were 18 temporary work agencies registered at The Directorate of Labour in January 2024, with

443 workers.


Forecast for January 2024:

It is expected that the unemployment rate will be between 3,9% and 4,2% in February.

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