Unemployment Continues To Drop - The Reykjavik Grapevine

Unemployment Continues To Drop

Published July 16, 2013

Unemployment in Iceland continues to hit new lows, with even regions of high unemployment relative to the country as a whole experiencing lower levels than EU and US averages.
The Directorate of Labour reports that employment statistics from June show that Iceland’s national rate of unemployment is now at a shockingly low 3.9%.
There does, however, appear to be a discrepancy between men and women with regards to jobs. While the number of men on unemployment decreased by 417, the number of women on unemployment only decreased by 163. This puts the unemployment average for men at 3.3%, while for women it’s 4.6%.
As always, there are regional differences where employment is concerned. Unemployment has been highest in the southwest region of Suðurnes for at least the past seven years now, and the region remains the highest concentration of joblessness – there, 5.3% of residents are unemployed. At the same time, unemployment remains lowest in the Westfjords, at only 1%.
This puts Iceland well ahead of both the EU and the US in terms of job availability. The seasonally-adjusted unemployment rate in the EU is at 12.2%, according to figures from May 2013, and the national rate of unemployment in the US is at 7.6%, as of this month.

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