Unemployment dropped very slightly from December to January, with 5.5% of the population, or 8686 people, currently unemployed, Vísir reports.
As of January 1st a temporary provision that had been allowing job-seekers to collect unemployment benefits for up to 48 months had expired, bringing the maximum allowable period for benefits collection down to 36 months. People who, as of the first of the year, had been collecting unemployment benefits for 42 months or longer were determined to be ineligible to continue receiving benefits. This resulted in 750 people being denied unemployment benefits and may contribute to the reported drop in the unemployment rate from December to January.
At an initiation meeting this morning, Vinnumálastofnun told recent applicants for unemployment benefits that the best time to find work begins in March, as many companies throughout the tourism industry begin to fill out their employee base in preparation for tourism season. So unemployment may continue to drop as the summer approaches.