From Iceland — Unemployment In Iceland Now At 3%

Unemployment In Iceland Now At 3%

Published October 15, 2014

Andie Sophia Fontaine
Photo by
Grapevine Archives

Unemployment in Iceland is now the lowest it has been since the October 2008 economic collapse; lower than in both the European Union and the US.

Kjarninn reports that unemployment in Iceland for the month of September was measured at 3%. At the same time, the average rate of unemployment in the EU is 10.1%, and is 6.1% in the US.

The latest figures are a part of a general trend which has seen a steady decline in unemployment since last March, when unemployment was at 4.5%. Regionally speaking, the numbers vary – the lowest rate of unemployment could be found in northwest Iceland, at 1.3%, while the highest rate of unemployment was in Suðurnes, at 4.5%.

Of the approximately 23,000 immigrants living in Iceland, 1,054 were registered as unemployed. Of these, most immigrants had previously held jobs working in food service or hotels and guesthouses.

The Directorate of Labour predicts that unemployment will take a bump upwards in October, to up to 3.3%.

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