Iceland Jobless Rate Climbs To 7.3%, Highest Since April 2021

(RTTNews) - Iceland's unemployment rate increased in January to the highest level in nearly five years, preliminary data from Statistics Iceland showed on Wednesday.

The seasonally adjusted jobless rate for persons aged 16 to 74 years rose to 7.3 percent from 4.5 percent in December. The unemployment rate was 4.6 percent in the same month a year ago.

Further, this was the highest rate since April 2021, when it was 9.0 percent.

There were 17,400 unemployed persons in January compared to 10,500 in December.

Meanwhile, the employment rate dropped to 75.7 percent from 76.8 percent.

The unadjusted jobless rate also climbed notably to 8.3 percent from 4.2 percent.