Iceland Jobless Rate Rises To 5.5%, Highest In 40 Months

(RTTNews) - Iceland's jobless rate increased further in February to the highest level in more than three years, figures from Statistics Iceland showed on Wednesday.

The jobless rate rose to a seasonally adjusted 5.5 percent in February from 4.9 percent in January. In the same month last year, the unemployment rate was 3.2 percent.

Further, this was the highest jobless rate since October 2021, when it was 5.6 percent.

The number of unemployed persons increased to 12,900 in February from 11,400 in the preceding month.

Meanwhile, the employment rate dropped to 76.0 percent from 77.4 percent in January.

On an unadjusted basis, the unemployment rate was 6.0 percent in February, up from 5.2 percent a month ago.