Iceland’s unemployment rate has now fallen to about 5%, according to new data from Statistics Iceland.
Unemployment in Iceland has been experiencing a steady albeit slow decline. Since the economic collapse of autumn 2008, the unemployment rate peaked at about 12% in May 2010, but has been falling ever since.
Statistics Iceland now reports that the national average of unemployment in Iceland is at 5% – one percent lower than it was in September 2011, and about 3% lower than it was in September 2010.
As has almost always been the case, unemployment is slightly higher among women than men – 5.7% versus 4.3%, respectively. Those who are currently enrolled in an education programme were not considered among the unemployed.
Iceland’s unemployment rate is especially low when compared to the European Union, where it currently stands at 11.4%, according to data from August 2012. As of September 2012, the United States has an unemployment rate of 7.8%.
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