19.09.2006 · The Government

Still little or no unemployment in the Faroes

The seasonally adjusted unemployment rate for July 2006 is 2.8%. This is very little unemployment, compared with other countries, although it is not a record low. 

Still little or no unemployment in the Faroes

The seasonally adjusted unemployment rate for July 2006 is 2.8%. This is the fifth month in succession that the unemployment rate has been less than 3% of the total labour force. This is very little unemployment, compared with other countries, although it is not a record low. From January 2002 to September 2003, unemployment was 2.5% or lower.
 
Unemployment greatest in the Northern Islands
Unemployment overall is lower than 3%, and this is also the case in most of the districts. However, the districts of Norðoy and Suðuroy have significantly higher levels of unemployment than other districts. For Suðuroy, unemployment has diminished each month since February 2005, and now stands at 3.6%. In Norðoy or the Northern Islands, however, it is just the opposite. Unemployment has grown over the last four months, and now has reached 4.5%, which still is comparatively little.