Faroe Islands conducts survey on employment rate amidst comparisons with European Union

This week, the Faroe Islands’ statistical agency is conducting a survey to assess the employment rate compared to previous years. Last year’s research indicated that there were 32,655 individuals in the labor market, with an employment rate of 83.9%. This figure breaks down to 86% for men and 82% for women.

Iceland ranks as the second-highest in terms of employment rates, while the study includes comparisons with 32 European countries and the European Union.

The survey targets individuals aged between 15 and 74, and the statistical agency notes that the employment rate in the Faroe Islands is high across all age groups.

As part of this week’s assessment, the agency will contact around 1,300 individuals to gather data. The majority of low employment figures are observed among men in Croatia, where the rate stands at just 64%, and among women in Romania, with an even lower rate of 48%.

The statistics on labor force participation are compiled in accordance with guidelines set by the International Labour Organization (ILO) under the United Nations. This approach ensures that the employment statistics from the Faroe Islands remain comparable to those from other countries, according to the statistical agency.