According to data compiled by Statistics Iceland, Iceland’s national rate of unemployment was at 4.5% in October, 2.5% lower than it was at this time last year.
Of the 178,500 people in Iceland considered employment viable, Statistics Iceland reports, 8,100 were without work and searching for employment.
In October 2011, unemployment was measured at 7%. This appears to be a continuing trend, as last September’s unemployment rate was 5.4% – in September 2011, it was 6.9%.
Demographically, more men than women were unemployed, but more men than women were also unemployed. There are 87,700 men on the work market, as opposed to 82,800 women. At the same time, about 5,000 men and about 3,000 women are unemployed.
Among those considered “unemployed” are students who do not work, those who are looking for work and can start working within two weeks, or those who have been hired for work that begins within a three-month period.