This table provides metadata for the actual indicator available from Iceland statistics closest to the corresponding global SDG indicator. Please note that even when the global SDG indicator is fully available from Icelandic statistics, this table should be consulted for information on national methodology and other Icelandic-specific metadata information.
| Indicator available |
Unemployment rate by sex and age |
|---|---|
| Indicator description |
The unemployment rate is a useful measure of the underutilization of the labour supply. It reflects the inability of an economy to generate employment for those persons who want to work but are not doing so, even though they are available for employment and actively seeking work. It is thus seen as an indicator of the efficiency and effectiveness of an economy to absorb its labour force and of the performance of the labour market. Short-term time series of the unemployment rate can be used to signal changes in the business cycle; upward movements in the indicator often coincide with recessionary periods or in some cases with the beginning of an expansionary period as persons previously not in the labour market begin to test conditions through an active job search. |
| Geographical coverage |
Iceland |
| Unit of measurement |
Percentage (%) |
| Definitions |
Unemployment measures people of age 16 and over without a job who have been actively seeking work within the last four weeks and are available to start work within the next two weeks. The unemployment rate is the proportion of all employed and unemployed people (not the proportion of the total population) who are unemployed. |
| Calculations |
(Unemployed persons / Persons in labour force) * 100 |
| Comments and limitations |
Data follows the UN specification for this indicator. This indicator has been identified in collaboration with topic experts. |