Unemployment Rate Down by 0.1 Percent Skip to content

Unemployment Rate Down by 0.1 Percent

By Iceland Review

There were 12,253 individuals, or 6.6 percent of working people, registered as unemployed during the month of July, according to the Directorate of Labor. The numbers were down by 281 individuals on average on a national level.

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Photo by Páll Stefánsson.

On average, 11,423 working individuals were unemployed during the month of July with the highest percentage of unemployment in the Sudurnes area in the Reykjanes Peninsula where it was 10.3 percent.

The second highest unemployment rate was in the Reykjavík metropolitan area where it was 7.6 percent and the lowest percentage of unemployment was in Nordurland Vestra, or the northwestern region of Iceland, where only 2 percent of the working force was unemployed.

Statistically more women are unemployed, or 6.8 percent versus 6.5 percent of men; however, more men were listed unemployed in the month of July than women.

On average, the number of men was down by 343, but women only by 62.

Sixty-two percent of those listed as unemployed last month had been so for six months or more, that is 7,614 individuals; long-term unemployment rates are up by 33 individuals since the end of June this year.

The good news is that unemployment numbers for those listed as unemployed for over a year went down from 4,609 at the end of June to 4,553 at the end July, mbl.is reports.

The Directorate of Labor estimates unemployment numbers will not shift drastically in the month of August and should remain somewhere between 6.4 percent to 6.7 percent.

Same time last year unemployment rates were 7.3 percent in the month of August and 7.5 percent in the month of July.

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