Iceland unemployment falls to 80-month low

Iceland unemployment falls to 80-month low

The jobless rate in Iceland dropped for the second consecutive month in June to hit an 80-month low, revealed the latest figures from Statistics Iceland.

The seasonally adjusted unemployment rate declined from 4.4 per cent in May to 3.2 per cent in June to mark its lowest point since October 2008 when it was at 2.8 per cent. It stood at 4.7 per cent in April.

On an unadjusted basis, meanwhile, the unemployment rate fell sharply from 6.8 per cent in May to 2.9 per cent in June. It was at 5.6 per cent in April.

There was also a sizeable drop in the number of unemployed people, from 13,200 in May to just 5,800 in June. And taking seasonally adjusted figures into account, the number of people without jobs declined from 8,600 to 6,100.

The employment rate in June stood at 84.1 per cent in comparison with 78.5 per cent the previous month, with the number of people in jobs jumping from 182,900 to 196,400. And the activity rate increased from 84.2 per cent to 86.6 per cent in the same period.

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