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Iceland's seasonally adjusted unemployment rate dropped to 2.6% in July 2024, from a downwardly revised 2.9% in the previous month. The number of registered unemployed declined by 700 from the prior month to 6,200, while the number of employed rose by 1,900 to 232,800. The seasonally adjusted employment rate edged up to 80.7% from 79.4% in the preceding period, whereas the labor participation rate increased to 82.9% from 81.8%. Meanwhile, the youth unemployment rate, which measures job-seekers between 16 and 24 years old, rose to 9% from 6.7%.