Unemployment Rate in Faroe Islands increased to 1.20 percent in June from 1.10 percent in May of 2019. Unemployment Rate in Faroe Islands averaged 4.36 percent from 1995 until 2019, reaching an all time high of 14.30 percent in May of 1995 and a record low of 1.10 percent in February of 2019.
Unemployment Rate in Faroe Islands is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Faroe Islands to stand at 1.20 in 12 months time. In the long-term, the Faroe Islands Unemployment Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.