Faroe Islands unemployment remains at historic low

Unemployment in the Faroe Islands remains exceptionally low, with just 366 people registered as jobless in March, according to figures reported by public broadcaster Kringvarp Føroya.

The unemployment rate stood at 1 percent last month, a slight decrease of 0.2 percentage points compared to March last year. The number of unemployed individuals dropped by 65 over the same period.

Men account for a larger share of the unemployed than women. Regional differences persist, with the lowest unemployment recorded in the Norðoyggjar (Northern Isles) and the highest in Suðuroy (Suduroy Island).

The 25–34 age group has the highest unemployment rate. Among those without work, one in nine has been unemployed for more than a year.

The data was provided by Hagstovan, the Faroese statistics agency.