Iceland’s Unemployment Rate Finally Drops Below 2%

Iceland’s Unemployment Rate Finally Drops Below 2%

Photos by
Jabbi/Wikimedia Commons

Published October 18, 2016

The number of Icelanders without work has reached a low not seen since before the economic collapse of 2008.

Westfjords news service Bæjarins bestu reports that, according to the latest figures from the Directorate of Labour, unemployment on the national level was at 1.9% in September.

This is the first time since October 2008, the same month that Iceland’s banking system collapsed, that unemployment has been this low. At that time, unemployment had been under 2% since August 2005.

In November 2008, unemployment rose to about 3% and continued rising, reaching a high point of 9.3% in February and March of 2010.

Unemployment in Iceland has been steadily decreasing, due in no small part to the explosion of jobs in the tourism industry.


News
Funds Secured For Children’s Addiction Treatment Facility

Funds Secured For Children’s Addiction Treatment Facility

by

Iceland’s Minister of Social Affairs and Equality has secured 500 million ISK to the construction of a substance abuse treatment facility

News
Municipal Council Want To Shut Down Polluting Silicon Plant

Municipal Council Want To Shut Down Polluting Silicon Plant

by

The Municipal Council of Reykjanesbær want the United Silicon plant to shut down immediately as arsenic levels in the air

News
News In Brief: Eurovision, Capital Controls and the Sigmundur Davíð-Donald Collusion

News In Brief: Eurovision, Capital Controls and the Sigmundur Davíð-Donald Collusion

by

The top story of the past two weeks is without a doubt the lifting of the last of the capital

News
Petition Going To Protest Deportation

Petition Going To Protest Deportation

by

A petition is going protesting the impending deportation of asylum seeker Sid Ahmed Haddouche and his family. Sid is a

News
Bird Flu Breakout In Iceland Likely

Bird Flu Breakout In Iceland Likely

by

Preparations against a possible bird flu outbreak have been ramped up, reports RÚV. The Icelandic Food and Veterinary Authority (IFVA) has

News
Investigation Opened Into Chatty Bus Driver

Investigation Opened Into Chatty Bus Driver

by

An investigation has been opened into an incident in which a bus driver allegedly spoke on his mobile phone without

Show Me More!