Unemployment Now Under 3% - The Reykjavik Grapevine

Unemployment Now Under 3%

Published July 14, 2015

Photos by
Slandsvi/Wikimedia Commons

Unemployment in June reached astonishingly low levels, even when taken region by region.

According to the latest data from the Directorate of Labour, the national rate of unemployment for the month of June was 2.6%, which is down by about 0.3% from the month previous. More women than men were unemployed, with rates at 3.2% and 2.1% respectively.

Even taken by region, unemployment was low. The highest rate of unemployment – once again, in Suðurnes – was at just 3.1%. The lowest rate, in northwest Iceland, was a minuscule 1.2%.

The vast majority of those unemployed were Icelanders, but foreigners comprised 19% of the total unemployed population.

Unemployment does tend to trend downward in the summer months in Iceland, so whether these unemployment rates will continue to hold still remains to be seen. However, bear in mind that at this time last year, unemployment was at 4.6%.

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