Employees
12. Oct 2021
27,400 employees in September — growth has stagnated
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.
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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 September, there were approx. 14,000 male and 13,400 female employees in the Faroe Islands. This is a year-on-year increase of 150 men and just over 350 women.
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Industrial sectors
The trend indicates an increase in the ‘private services’ sector, while the recent growth in the ‘governmental and other services’ sector has come to a halt. The number of employees in the ‘construction and other manufacturing’ sector is now declining after a period of steady increase since 2014.
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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.