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Lack of Jobs for the University Educated

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Lack of Jobs for the University Educated

University of Iceland

From the University of Iceland. Photo: Geir Ólafsson.

The lack of jobs in Iceland for university educated people concerns Katrín Ólafsdóttir, a job market economist, who was interviewed on Rás 2 radio this morning. There are numerous signs that the job market is not ready to receive recent university graduates.

The rate of unemployment has decreased less among those with a university education than others. Moreover, university educated people increasingly appear to give up job hunting. Those are certain signs of danger, according to Katrín.

She explains that more and more frequently, the jobs being created in the country do not require a university degree. The number of people with a university education has gone up since the turn of the century, but the number of jobs requiring such education hasn’t increased at the same rate.

Associate Professor of Economics Ásgeir Jónsson points out that the generation who entered the labor market after 2000 has not received any salary increases or promotions since the financial crisis of 2008. He believes this group is falling behind others on the job market.

A special discussion will be held in Alþingi, the Icelandic parliament, at 3:30 pm today regarding measures authorities can take to improve conditions for young people.

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