Lowest unemployment rate in Iceland in seven years Skip to content

Lowest unemployment rate in Iceland in seven years

According to a new report from the Directorate of Labor, the unemployment rate in Iceland was 0.9 percent in July, down from 1.0 percent in June and 1.1 percent in May, and has not been measured lower during any month since October 2000.

Despite unemployment rates being measured at a historical low, employers are optimistic about filling vacant positions this fall. According to Morgunbladid, there is a lot of movement in the job market; many look for new jobs at this time of year.

Manager of online employment agent job.is Kolbeinn Pálsson said hospitals and schools are desperate for employers to fill service and caretaking positions. There is also a lack of staff in shops, restaurants and hotels, he said.

Employment manager at the low-cost grocery chain Bónus Svanur Valgeirsson said the company has managed to fill almost every position, about 400, due to its change in policy about hiring foreign-born workers.

“If we hadn’t made that change in policy we would have a considerable lack of staff. The foreigners are saving us,” Valgeirsson said.

According to Gudný Halldórsdóttir, managing director of employment service STRÁ MRÍ, employment managers have to be quick to hire the employees they like.

Halldórsdóttir said software companies, engineering offices and banks have been increasing the number of positions, which explains a shortage of available employees with degrees in engineering, computer science, economy and law.

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