Unemployment Continues Decline

19.9.2012
Words by Paul Fontaine
Iceland's unemployment rate has shown a continued slow but steady decline over the past year.

RÚV reports that, according to Statistics Iceland, unemployment for the month of August was reported to be at 5.8%. While this figure is up from last July, when it was at 4.4%, in August 2011 unemployment was at 6.2%.

It does appear that more men than women are finding work, though. 5% of men are unemployed now, as opposed to 5.7% at this time last year. Meanwhile, 6.7% of women are without work now, indicating a drop of only 0.1%.

That said, it should be had in mind that Iceland's unemployment rate is still below Europe's, which is currently 11%. It also happens to be under America's jobless rate, which is at about 8%.

For the purposes of this survey, "unemployed" was defined as anyone who did not have a job within the week the survey was taken, was looking for work that would begin within two weeks, or had been hired for work that would begin within three months. Students were counted among the unemployed if they fit the above criteria.

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