European Economic News

Iceland's Unemployment Rate Drops For Third Month

Iceland's unemployment rate declined for the third successive month in May, data released by the Directorate of Labor showed Friday.

The unemployment rate decreased to 4.3 percent in May from 4.9 percent in April and 5.3 percent in March. In May 2012, the jobless rate was 5.6 percent.

The average unemployment rate during the five months ended May 2013 was 5.1 percent, the agency said.

The number of unemployed persons in the country decreased to 7,837 at the end of May from 8,343 in April.

by RTTNews Staff Writer

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