Unemployment

An unemployed individual is defined as currently being without work, fully available to the labour market and actively seeking employment.

Definitions:

  • Unemployed are individuals between 16-66 years and are registered as unemployed in the Faroese unemployment system and/or the social services.
  • Affected by unemployment: The number of people who have been unemployed for one or more days in a month.
  • Full-time unemployment: Since not everyone is unemployed every day of a given month, all individuals affected by unemployment are converted to full-time unemployed. For example, two persons who have been unemployed for half a month each are counted as one full-time unemployed person.
  • Unemployment rate: The full-time unemployment rate in % relative to the size of the labour force.
  • Labour force is an international measurement which counts the number of residents aged 15-66 who are capable of work.
  • Seasonally adjusted figures are adjusted for seasonal variations such as recurring seasonal activity patterns
  • Trend describes the unemployment trend by adjusting for seasonal effects and error components in the figures.

The annual figures from the labour force survey should be used for making international comparisons of unemployment.

Why is there a two-month lag in the unemployment figures?

Many delayed entries are filed after the end of the registered month. A two-month lag helps ensure accuracy in the statistics.

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