Iceland’s Directorate of Labour has paid some 29,000 people over ISK 25 billion (USD 223 million) in unemployment benefit in the last year. That is ten-times more than in 2007.
The latest figures from the directorate reveal that some 8,000 foreigners left Iceland in the immediate aftermath of the bank crash. The post-crash picture is one of disappearing tax revenues and increasing benefit payments.
It seems many formerly high earners have also been claiming unemployment benefit. Last year, 323 individuals who had previously had annual revenues over ISK 10 million, were given ISK 237 million in relief from the state, while their income was ISK 7.4 billion. 290 of those individuals had higher revenues last year, when they received benefits, than the year before, RUV reports.