Governance and Society

Faroese unemployment rate hits record low at 1.1%

In January, the Faroe Islands unemployment rate fell to 1.1 percent, which is the lowest level of unemployment ever recorded in the North Atlantic archipelago.

That’s according to Statistics Faroe Islands, who released January’s numbers last week.

The rate fell from 2.2 percent in January 2018 to 1.1 percent in January 2019, beating the previous low of 1.2 percent set in June 2008.

In January 2019, 323 individuals were unemployed compared with 625 in January 2018.

Men have a lower unemployment rate than women. The unemployment rate for men was 0.9% in January, while the rate for women was 1.3%.

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