From Iceland — Unemployment Reaches New Low

Unemployment Reaches New Low

Published February 12, 2016

Andie Sophia Fontaine
Photo by
BenAveling/Wikimedia Commons

Unemployment continues its decline from last year, though jobless rates varied across different regions of the country.

RÚV reports that the national unemployment rate is now 2.9%, according to the latest data from the Directorate of Labour. This is not only a third of what it was just five years ago – it is also down from the same time last year, when it was at 3.6%

In all, 4,857 Icelandic residents were unemployed in January; of those, about 20% were foreigners. Slightly more women than men were unemployed, at 2,498 and 2,359 respectively.

While this national rate of unemployment sets a new low, not every area of the country had equal levels of employment. Joblessness was highest in Suðurnes, as has been the case for about 10 years now, and is currently at 3.6%. The most highly employed region of Iceland remains the northwest, where unemployment was at only 1.8%.

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