Employment rate in the Nordic countries 2012-2022, by country

Iceland had the highest employment rate of the Nordic countries from 2012 to 2022. In 2022, it was 83 percent among the adult population between 15 and 64 years in Iceland, whereas it was between 74 and 78 percent in the other four Nordic countries. The employment rate decreased in all five countries from 2019 to 2020 after the outbreak of COVID-19. The fall was most dramatic in Iceland, where the rate fell by four percentage points. Finland had the lowest employment rate of the countries. Moreover, the employment rates were higher in all five Nordic countries than the EU average.

The highest employment rates in Europe

Comparing all European countries with each other, the Nordic countries had some of the highest employment rates in Europe in 2022. In the EU, the Netherlands had the highest employment rate.

Higher unemployment rates in Sweden and Finland

Of the Nordic countries, Sweden had the highest unemployment rate in 2021. However, all five countries had an unemployment rate below eight percent. As of October 2022, Spain had the highest unemployment rate in the European Union, whereas Czechia had the lowest.