From Iceland — Unemployment Reaches 15,000

Unemployment Reaches 15,000

Published February 13, 2009

Unemployment amongst Icelanders aged 20 – 24 has crossed 11%, marking a
five-fold increase in unemployment from the same month last year. Those 25 and older, up to 60, have seen a four-fold increase in unemployment. According to the Directorate of Labor, 14,755 residents are on unemployment now – 9,354 men and 5,401 women.
A report from the Ministry of Finance points out that due to a change in compensation law, many Icelanders, while not necessarily unemployed, are under-employed. The ministry also expects that unemployment will continue to increase.
Unemployment levels are highest amongst Icelanders aged 20 – 24, gradually decreasing through older age groups, hitting a low at 45 – 49 at 5%. This is followed by a modest rise up to 6% among those aged 55 – 59 before dipping down again to just over 4% among those 65 – 69, the oldest age group gauged. Across the board, unemployment was lowest among Icelanders aged 15 – 19.

Support The Reykjavík Grapevine!
Book your day tours in Iceland right here!


Go travel with Grapevine tried and recommended tours by Grapevine. Fund Grapevine journalism by booking with us.

Show Me More!