Iceland Employment

The share of youth not in education, employment or training (also known as “the NEET rate”) conveys the number of young persons not in education, employment or training as a percentage of the total youth population. Youth not in education are those who were neither enrolled in school nor in a formal training program (e.g. vocational training). For the purposes of this indicator, youth is defined as all persons between the ages of 15 and 24 (inclusive).

Unemployment refers to the share of the labor force that is without work but available for and seeking employment.

Unemployment refers to the share of the labor force that is without work but available for and seeking employment.

GDP per person employed is gross domestic product (GDP) divided by total employment in the economy. Purchasing power parity (PPP) GDP is GDP converted to 2021 constant international dollars using PPP rates. An international dollar has the same purchasing power over GDP that a U.S. dollar has in the United States.

Labor force participation rate is the proportion of the population ages 15-64 that is economically active: all people who supply labor for the production of goods and services during a specified period.

Unemployment refers to the share of the labor force that is without work but available for and seeking employment.

Youth unemployment refers to the share of the labor force ages 15-24 without work but available for and seeking employment.

Employment is defined as persons of working age who were engaged in any activity to produce goods or provide services for pay or profit, whether at work during the reference period or not at work due to temporary absence from a job, or to working-time arrangement. The agriculture sector consists of activities in agriculture, hunting, forestry and fishing, in accordance with division 1 (ISIC 2) or categories A-B (ISIC 3) or category A (ISIC 4).

Employment is defined as persons of working age who were engaged in any activity to produce goods or provide services for pay or profit, whether at work during the reference period or not at work due to temporary absence from a job, or to working-time arrangement. The industry sector consists of mining and quarrying, manufacturing, construction, and public utilities (electricity, gas, and water), in accordance with divisions 2-5 (ISIC 2) or categories C-F (ISIC 3) or categories B-F (ISIC 4).

Employment is defined as persons of working age who were engaged in any activity to produce goods or provide services for pay or profit, whether at work during the reference period or not at work due to temporary absence from a job, or to working-time arrangement. The services sector consists of wholesale and retail trade and restaurants and hotels; transport, storage, and communications; financing, insurance, real estate, and business services; and community, social, and personal services, in accordance with divisions 6-9 (ISIC 2) or categories G-Q (ISIC 3) or categories G-U (ISIC 4).

Self-employed workers are those workers who, working on their own account or with one or a few partners or in cooperative, hold the type of jobs defined as a "self-employment jobs." i.e. jobs where the remuneration is directly dependent upon the profits derived from the goods and services produced. Self-employed workers include sub-categories of employers, own-account workers and members of producers' cooperatives and contributing family workers.