Lowest Jobless Rate in Iceland since 2008 Skip to content

Lowest Jobless Rate in Iceland since 2008

The unemployment rate in Iceland was 6.5 percent in April, down by 0.6 percent since March, according to new numbers from the Directorate of Labor. The rate has not been lower since December 2008, two months after the crisis hit.

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Archive photo by Páll Stefánsson.

In April 2011 the unemployment rate was 8.1 percent and 8.5 percent on average during the first four months that year. So far this year, the average unemployment rate has been 7.0 percent, Fréttatíminn reports.

At the end of last month, 10,837 individuals were without work in Iceland.

According to Morgunblaðið, ISK 19 billion (USD 159 million, EUR 117 million) are expected to be paid out in unemployment benefits this year, which means that a total of ISK 94 billion (USD 737 million, EUR 557 million) will have been paid out in benefits since the banking collapse.

Prime Minister Jóhanna Sigurðardóttir promised 14,000 new jobs in her keynote speech last autumn. Between 10,000 and 11,000 jobs are to be created, directly and indirectly, through the government’s new investment strategy.

Click here to read more about unemployment in Iceland.

ESA

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