Trend of lower unemployment continues

The number of unemployed persons in Iceland in November was 5,800 according to fresh numbers from Statistics Iceland which means the unemployment rate was 3.1 percent. The activity rate on the other hand was 80.9 percent and employment rate 78.4 percent.

„Comparison between November 2013 and 2014 shows increase both in activity and employment rate and decrease in unemployment. The activity rate increased by 1.2 percentage points, the employment rate increased by 2.1 points and the unemployment rate decreased by 1.1 point,“ a statement from Statistics Iceland reads.

Furthermore the statistics office says the unemployment rate hasn't been lower since October 2008 when it was 2.4 percent. „Like previous months the trend lines for the seasonally adjusted data in the last six months still shows a slight decrease in unemployment and there is a slow increase in both number and the rate of employment and activity.“

The economic crisis hit Iceland in October six years ago leading among others things to huge increase in unemployment. The country's economy has, however, been recovering fast in recent years largely thanks to increased export due to the devaluation of the national currency, the króna, and booming tourist industry.

The Statistics Iceland's statement in full