Unemployment in Iceland in June was about half as much as unemployment in the European Union countries and more than half as much as in the euro area. Unemployment decreased in Iceland between months, contrary to what happened abroad.
Registered unemployment in Iceland was 3.1% last June, but neither the Directorate of Labor and Statistics Agency nor Statistics Iceland has yet published unemployment figures for July. Unemployment fell from 3.4% in May but was still higher than in June 2023 when it was 2.9%.
On average, there were 6,722 unemployed last June. More men than women were without work, 3,784 men compared to 2,938 women. Unemployment was the highest in Suðurnes, 5.3%, and had decreased by 0.4 percentage points since May. Unemployment was the lowest in the North West, 1%.
According to Eurostat, the statistical office of the European Union, the seasonally adjusted average unemployment rate in the EU countries in June was 6%, and unemployment in the euro area was 6.5%. That means that approximately 13.25 million people were without a job within the European Union, slightly more than in May and likewise more than at the same time a year ago.
The situation was worst in Spain, where unemployment was 11.5% in June, and in Greece, 9.6%. Unemployment was lowest in the Czech Republic, 2.7%, and in Poland, 3%.
If you look at Iceland’s closest neighbors, the Nordic countries, unemployment there was considerably higher than in Iceland. The lowest unemployment rate in June was recorded in Norway, at 4.1%. Unemployment in Denmark was 5.9% and 8.3% in both Sweden and Finland.