Unemployment continues to drop – especially on the island of Suðuroy

Unemployment decreased to 1.3 per cent in November 2018, compared with 2.2 per cent in November 2017, according to Statistics Faroe Islands (Hagstova Føroya).

In November 2018 in the Faroe Islands 368 individuals were unemployed compared with 615 in November 2017.

752 individuals were unemployed around Christmas time 2016.

The island of Suðuroy has the highest unemployment rate in the Faroe Islands. However, Suðuroys jobless rate has fallen drastically since 2017 – from 4.7 per cent in November 2017 to 2.2 per cent in November 2018, mainly due to the reopening of the Varðin Pelagic fish factory.

The jobless rate in the Faroe Islands is currently at its lowest level since the summer of 2008, when it was at 1.2 per cent.

Author: Jens Hákun Leo