13. Sep 2021
27,300 employees in August — growth has stagnated
There were 27,300 employees in the Faroe Islands in August 2021, an increase of about 800 on August 2020.
The trend indicates that the growth in the number of employees has almost come to a standstill in recent months.
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By hovering the marker over a certain point on the graph, you can see the population figure for that particular month. By adjusting the timeline at the bottom of the graph, you can also extend the period – back to 1985 for this particular graph.
To embed the graph in your own website, click the menu button in the top right corner. Click ‘Embed graph in website’, then click ‘Copy code’ and paste the code in your website.
Men and women
The graph below shows the employee numbers for each sex. The semi-transparent lines show the employee numbers, while the solid lines show the trend.
In August, there were approx. 13,900 male and 13,400 female employees in the Faroe Islands. The trend indicates that while the growth in the number of male employees has stagnated, the number of female employees continues to rise. The result is that the difference in the number of male and female employees is now shrinking.
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 ‘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.