Iceland Mag

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Iceland Mag

Economy

Job growth set to continue in 2018: New workers will have to be hired from abroad

By Staff

  • Construction and tourism Foreign workers will be needed to fill alot of the new jobs which are projected to be created this year. Photo/Vilhelm

The Icelandic economy is expected to continue to generate more jobs in 2018 than the domestic labour market can fill. To fill the 2,500-3,000 jobs which will be created this year Icelandic businesses will have to look abroad. 2,000-2,5000 new jobs will be added in 2019.

According to statistics from the Directorate of Labour 2018 will be the seventh year in a row when the Icelandic economy adds jobs. The economy has already added 29,300 jobs since the current economic boom began in 2011. The Directorate of Labour expects that the largest increase in 2018 will been in the tourism industry. Tourism is responsible for nearly half of all new jobs created in 2016.

Read more: Iceland one the countries most dependent on tourism: Contributed 45% of post-crash recovery

The Directorate of Labour notes that most of the new jobs which are projected to be added in 2018 will not require university degrees. This is a problem, an expert with the Directorate told the National Broadcasting Service, because people with university degrees make up a growing share of the workforce.

The largest need for foreign workers will be in the construction industry and tourism. 

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