Highest Jobless Rate in Iceland in Two Decades Skip to content

Highest Jobless Rate in Iceland in Two Decades

Unemployment has not been more widespread in Iceland since the rate was first measured in 1991. According to Statistics Iceland, of the almost 181,000 people on the employment market last year, 13,100 were unemployed, which is 7.2 percent of the workforce.

From the protests in November 2008. Copyright: Icelandic Photo Agency.

According to ruv.is, the unemployment rate is expected to reach 8.5 percent this year; the rate surpassed nine percent in April.

The percentage of employed workers is now 75 percent and has not been this low in 19 years, ruv.is reports.

The unemployment rate is highest among those who have only completed elementary school and lower among those who have a university degree.

There are more fluctuations in the employment and unemployment numbers of the age group 16-24 than among other age groups.

The overall weekly working hours among men has decreased from 51 hours in 1991 to 44 hours last year, but the weekly working hours among women has remained relatively steady around 35 hours.

Almost two of every three women on the employment market are fully employed, as compared to every other woman 19 years ago. Nine of every ten men are employed full-time.

Click here to read more about unemployment in Iceland.

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