In the last quarter of 2019, 2,500 jobs were open in the Icelandic labour market, according to the results of the Icelandic Statistics Institute. In addition, the statistics show that 229,500 positions were filled by that quarter, setting job vacancy proportions at only 1.1%. The numbers for these statistics are considered quarterly with the legal authorities for job registration.
The Icelandic job market faced great instability after the 2008 economical crisis. Following the financial crash, unemployment rates were set to a historical high and over the last several years the country has been getting back on financial track, especially with the help of the growing tourism industry.
And even though Iceland can currently brag about living in a situation of full employment, the past year saw a lot of fluctuations in the job market. 2019 was marked by two large group layoffs. Hundreds of people lost their jobs in March, due to the bankruptcy of WOW air, and in September, Arion Bank laid off at least 100 of their employees.
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