Unemployment Near 4% Mark - The Reykjavik Grapevine

Unemployment Near 4% Mark

Published December 20, 2012

Unemployment in Iceland for the month of November was measured at 4.4%, continuing a trend that is seeing more Icelanders returning to work.
While many Icelanders still find themselves without work, unemployment has been steadily declining since early this year. RÚV now reports that unemployment is at 4.4% nationwide, showing a decline of 0.7% from November 2011 and of 0.1% from October 2012.
As has been the case in many months previous, more men than women are unemployed. 4.9% of men and 3.8% of women are reportedly out of work, as opposed to 5.6% and 4.6% respectively for November 2011.
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.
The trend is remarkable, not least of all in comparison to the European Union, which has a current unemployment rate of 11.7%, and the US, which is currently at 7.7%.

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