Unemployment in Iceland Reaches 9.1 Percent in April Skip to content

Unemployment in Iceland Reaches 9.1 Percent in April

The unemployment rate in Iceland in April was 9.1 percent, up from 8.9 percent in March, according to statistics from the Directorate of Labor, published yesterday. In April 2008, unemployment was only one percent in Iceland.

Working in Iceland. Photo by Páll Stefánsson.

Currently, 17,408 workers in Iceland are without jobs. Almost 40 percent of these people are aged 16-29. The directorate has also concluded that 10.4 percent of all men on the Icelandic employment market are unemployed, Morgunbladid reports.

Usually the employment situation improves from April to May, for example because of the beginning of a seasonal upswing, but the directorate predicts that the situation will not change radically this month, expecting unemployment to range from 8.8 to 9.3 percent.

According to the directorate, the number of individuals who have been on the unemployment registry for longer than six months increased from 1,749 at the end of March to 3,269 at the end of last month. They currently account for 20 percent of the unemployed.

The long-term unemployment rate in Iceland, which accounts for those who have been unemployed for longer than six months, is on the rise and the Directorate of Labor is concerned about this development.

Those who have been registered unemployed for longer than 12 months are not increasing as rapidly, with 361 people at the end of March, but considering the continued bleak outlook for the job market, their number is expected to rise later this year.

Click here to read more about unemployment in Iceland.

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