Labor Market in Iceland
The Icelandic labour market has for decades been characterised by a constant demand for labour. The demand was especially high the last few years due to a booming economy, and the labour demand was met by workers from other EEA countries. The Icelandic economy is now going through a recession with decreasing labour demand and increasing unemployment.
Iceland is moving towards economic recovery with multilateral assistance from the International Monetary Fund playing a key role. Iceland’s clean energy, its marine resources, strong infrastructure and well-educated workforce, provide a firm basis to overcome the current economic difficulties.
The state and municipalities are the largest employers in Iceland. The tourism sector keeps expanding and in the last decade the demand for highly skilled specialist such as programmers and system administrators increased.
