Image: Jelena Ćirić | Iceland Review

Six Hundred Jobs Could Be Lost in Next Six Months

 In Business, News, Society

As many as 600 jobs may be lost within the next six months, Kjarninn reports. This per a recent survey of managers at the 400 largest companies in Iceland, which was conducted by Gallup on behalf of SA, the Confederation of Icelandic Enterprise, and the Central Bank of Iceland.

The surveyed managers’ assessments of the current economic climate are somewhat at odds, as just as many managers reported thinking that the economy is currently in a good position as in a bad one. However, far more of the respondents think that the economy will get worse, rather than better, in the near future.

Respondents expect inflation to reach 3% over the coming year; inflation is currently at 3.6%, as compared to an average of 2.5%.

Both Statistics Iceland and the Central Bank of Iceland are predicting an economic decline in the coming year. The Central Bank predicts a decline of 0.4%, while Statistics Iceland predicts a decline of 0.2%.

The potential loss of jobs in the coming months is in significant contrast to the economic growth experienced last year. Statistics Iceland reports a 4.6% increase in GDP last year, with 6,500 new jobs created between January and December 2018.

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