The rate of unemployment in Iceland has continued to rise in March, but there has been a noticeable slow down in numbers of newly registered unemployed people.
According to Karl Sigurdsson, head of the labour department at the Directorate of Labour, unemployment in March will probably be around nine percent. Unemployment figures put the figure at 8.2 percent of the workforce in February, 6.6 percent in January and 4.8 percent in December, while it was just 3.3 percent in November. These figures confirm that the rate at which people are being made unemployed is slowing.
Sigurdsson confirms that the increase in unemployment in Iceland is roughly following expectations during the current economic slowdown, mbl.is reports.
According to the latest predictions, the rate of unemployment will reach 9.6 percent in May; a figure which will represent a levelling off point after which the number of people seeking work will start to go down.
Get it straight. Unemployment figures are slowing and will continue slowing right up until the point the last company’s burn through the last of their capital and are unable to get anymore loans. Mismanagement is rampant in Iceland, not just in politics and banking. It is not government strategies that will slow things down even more.
– “According to the latest predictions, the rate of unemployment will reach 9.6 percent in May; a figure which will represent a levelling off point after which the number of people seeking work will start to go down.”
Yes once depression of economy and depression of the people really gets set in then people will stop seeking work. Then they will just live off whatever the government has left to give to the unemployed depressed people.
You hear that low rumbling sound on the wind? – that is the death rattle of 20,000 Icelandic companies.
Kreppa creep is coming! I think the kreppa will level off and kreppa will be the new recovery. Just kreppa and more kreppa with extra unemployment
The rising in unemployment is because of the noticeable increase in outsourcing. Now a days most of the companies are outsourcing to other countries where they need to spend less money and get quality work. India is now a favorable place in the outsourcing market because of their low cost and Philippines secured the second position.
offshoreadvisor.com