11. Feb 2022
26,800 employees in January — a 1.2% growth on 2021

January is normally the month with the lowest number of employees, while December has the highest, surpassing 28,000 employees in 2021. In January 2022 there were 26,800 employees in the Faroe Islands.

A total of 26,800 employees in January 2022 represents a year-on-year increase of just over 400 employees (1.2%).

The trend indicates that after numerous months of stagnation, the number of employees is now on the rise again.  


The graph above shows the employee figure plummet in April 2020, which was the first full month after the Covid-19 outbreak. 

Number of working men and women growing

The graph below shows the employee number for each sex. The semi-transparent lines show the employee numbers, while the solid lines show the trend.

In January 2022, there were approximately 13,600 male and 13,200 female employees in the Faroese work force. This is a year-on-year increase of around 200 men and 200 women.

Men account for 50.8% of the work force. Women account for 49.2%.


The industrial sectors

The two graphs below show the employee figures and the month-by-month trends in the four main industrial sectors.

The trend indicates a steady growth in the sectors ‘governmental and other services’ and  ‘private services’. The number of employees in 'private services' is now higher than it was before the pandemic. In ‘construction and other manufacturing industries’, the employee figure is in decline.




About employees

An employee is anyone aged between 16 and 74 who earns a wage that is subject to tax at source (PAYE) and resides in the Faroe Islands at the time of wage payment. A person is regarded as an employee if he or she receives a wage payment which is no lower than a day wage for an unskilled worker, regardless of whether the wage is paid by a Faroese or an overseas company.

About the trend

The trend describes the employee trend by adjusting for seasonal effects and error components in the figures.

About the main industrial sectors

Grouped under the ‘fishery and other natural resources’ sector are the following branches: agriculture, fishing, aquaculture, extraction of raw materials, fish processing and activities not elsewhere indicated.

The ‘construction and other manufacturing’ sector includes: shipyards/machine shops, other manufacturing, construction and energy.

The ‘private services’ sector includes: trade and repair, hotels and restaurants, sea transport, other transport, communications, finance and insurance, business services. household services and organisations, culture, etc.

‘Governmental and other services’ includes: public administration and services (central administration, municipalities, education, health and social work), government institutions and the Ministries of Education and Health.

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