Icelandic unemployment rate lowest in 19 years

Last month, Iceland recorded the lowest rate of unemployment experienced in the country over the last 19 years.

Reports released last week indicate that currently less than one per cent of the Icelandic population is without a job.

In September, the country registered just 1,336 people as being unemployed, a figure which corresponds to approx 0.8 per cent of the labour force in Iceland.

A press release issued from the Directorate of Labour explained that the demand for workers in Reykjavik and the surrounding area has been growing steadily since October 1988.

The Directorate also noted that the rates of unemployment vary slightly according to gender with more women unemployed than men. While 1.2 per cent of women are currently unemployed in Iceland, that figure is just 0.6 per cent for men.