At least nine out of every ten people to have lost their jobs in Iceland worked in the private sector. At the same time as the number of private sector jobs has decreased, the number of public sector jobs has actually gone up.
The figures were released by the Iceland Chamber of Commerce and show a [...]
At least nine out of every ten people to have lost their jobs in Iceland worked in the private sector. At the same time as the number of private sector jobs has decreased, the number of public sector jobs has actually gone up.
The figures were released by the Iceland Chamber of Commerce and show a great inequality between the public and private sectors, according to Frosti Olafsson, the organisation’s second in command.
When asked in parliament, the Icelandic Finance Minister, Steingrimur J. Sigfusson said that 300 new public sector jobs have been created between 2008 and 2009. At the same time, over 10,000 people lost their jobs. Olafsson said this shows that the rising unemployment caused by the financial crisis has almost only attacked private employers.
Iceland’s public spending has increased rapidly over recent years and is the highest of any OECD country, Olafsson told Visir.is. Thirty years ago it was among the lowest. He added that public employees’ wages are now above average for the nation, along with higher job security, much better pension plans and shorter working hours.