Unemployment Continues to Drop - The Reykjavik Grapevine

Unemployment Continues to Drop

Published June 1, 2010

According to figures from the Directorate of Labor, unemployment fell below the 9% mark last month. This was brought to light by Minister of Finance Steingrímur J. Sigfússon during parliamentary discussion on the state of the economy yesterday.
The minister pointed out that there were other indications besides this that the economy was healing. His statement was made in response to criticism from Independence Party MP Ragnheiður Elín Árnadóttir that the government wasn’t doing anything to help the economy.
Despite similar criticisms from conservatives, Iceland’s unemployment has been steadily decreasing, however slowly. Moody’s also raised Iceland’s rating to Stable recently, and a report from the IMF contends that the country will have a fully balanced budget by 2014.
However, many Icelandic families still face high food costs and loans that are running away from them. This has prompted labor unions to accuse the government of not doing enough to help the average Icelandic household.


Show Me More!