Iceland’s unemployment rate was 2.9% in October, according to a report published today by Statistics Iceland. The rate has only once been lower in the past decade, when it reached 2.7% in 2016.
According to the report, 204,700 people from 16-74 are on the Icelandic labour market. This number has grown by 3,900 since October 2017. Of those individuals, 198,700 were employed in October 2018 while 6,000 were unemployed.
Statistics Iceland also reported that the wage index has risen by 6.2% over the past twelve months.