Iceland's unemployment rate decreased for the third consecutive month in May, data released by the Directorate of Labor showed Tuesday.
The unemployment rate dropped to 5.6 percent in May from 6.5 percent in April. In March and February, the jobless rates were 7.1 percent and 7.3 percent respectively.
The number of unemployed persons in the country decreased to 9,854 in May from 10,990 in April. Long-term unemployment, which refers to persons unemployed for one year or more, dropped by 367 on a monthly basis to 3,962 at the end of May.
The unemployment rate among youth, aged between 16 and 24, declined by 242 from the previous month to 1,544 in May, data showed.
by RTT Staff Writer
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