Until the 20th century, Iceland was a fairly poor country. It is now one of the most developed countries in the world. Strong economic growth had led Iceland to be ranked first in the United Nations' Human Development Index report for 2007/2008, although in 2011 its HDI rating had fallen to 14th place as a result of the economic crisis. Nevertheless, according to the Economist Intelligence Index of 2011, Iceland has the second-highest quality of life in the world. Based on the Gini coefficient, Iceland also has one of the lowest rates of income inequality in the world, and when adjusted for inequality, its HDI ranking is 6th. Iceland's unemployment rate has declined consistently since the crisis, with 4.8% of the labour force being unemployed , compared to 6% in 2011 and 8.1% in 2010.