In the last six years, jobs in the fisheries and in industry have decreased. According to Iceland State Radio, RÚV, the high exchange rate of the Icelandic króna (ÍSK) and high salaries are to blame.
A new report by the Confederation of Icelandic Employers, SA, explains that the past few years’ high exchange rate of the Icelandic króna (ÍSK) has elimnated the profit from once profitable manufacturing and production operations.
In 1998, fisheries and industry employed close to 33,000; last year these sectors accounted for approximately 28,600 jobs, a decrease of 4,000. In this six year period there was an increase of 12,000 jobs in the overall labor market. Other sectors of the economy and the public sector made up for the decrease in employment in the fisheries and in industy.