Unemployment remains historically low

The Faroese unemployment rate was 0.8 percent in February 2023, down from 1.0 percent a year ago, reports Statistics Faroe Islands.

The trend shows that unemployment has been on a steady decline in recent years. The rate went up slightly in 2020 due to the pandemic but has since gone down again.

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Of the 240 full-time unemployed people in February, 26 have been out of work for more than a year. This figure has also gone down.

The highest unemployment rate is found in the 45-54 age group, and the highest rate is in the 25-34 age group.

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Caption: 

Eysturoy and Vágar have the lowest unemployment rate, while Sandoy and Suðuroy have the highest. Source: Statistics Faroe Islands

Read the Faroese version of this article here.

More Faroese News in English.