Jobless Rate in Iceland at 3.3 Percent

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Jobless Rate in Iceland at 3.3 Percent

fishermen at work

Fishermen at work. Photo: Páll Stefánsson.

The unemployment rate was 3.3 percent in Iceland in July, which means that 6,400 people were without a job. The rate has decreased by 0.4 percent compared to the same month last year, according to data from the Icelandic Labor Force Survey published on the website of Statistics Iceland.

Iceland is among countries with the lowest unemployment rate in Europe. In a listing of European countries by unemployment rate on Wikipedia, primarily surveying data from 2013, Iceland has a 4.5 percent annual average unemployment rate.

Only a handful of countries have a lower rate, including Switzerland with 3.2 percent and Norway with 3.6 percent, while Germany has an unemployment rate of 5.3 percent and the U.K. 6.3 percent.

Several European countries are in the double digits with Bosnia and Herzegovina having the highest unemployment rate on the continent at 44.3 percent.

Judging by the statistics, the situation is similarly severe in other Balkan states, such as Kosovo with 30.9 percent and Macedonia with a 28.4 percent rate.

The unemployment rate in neighboring Greece is at 27.9 percent, while in Spain 26.3 percent of the labor force is without a job.

On the other side of the Atlantic Ocean, the July 14 unemployment rate in the U.S. was 6.2 percent, as reported by Reuters.  

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