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3.4 Business life

3.4.1 Jobs in key economic sectors

Relates to the following UN World Goals

8. Góð atvinna og hagvöxtur

Relates to the following subgoals

8.5

By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.

9. Nýsköpun og uppbygging

Relates to the following subgoals

9.2

Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries.

Progress

 
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Figure 1. The proportion of jobs in key economic sectors in East Iceland by gender in 2023 compared to the whole country.

 
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Figure 2. The proportion of jobs in key economic sectors in East Iceland 2023 compared to the countryside, capital area, and Iceland.

 
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Figure 3. Employed persons by business sectors in East Iceland 2008 - 2023.

 

Updated: June 3, 2024
Source: Statistics Iceland

Metrics, Targets and Monitoring Protocol

What is measured?
  • Number and proportion of jobs in key economic sectors in East Iceland and nationally. (Project effect: indirect).
Monitoring Protocol
  • Information available from Statistics Iceland. The Hachman Index is used to calculate diversity in East Iceland compared to national economic diversity. Information gathered annually.
Targets
  • Operation: Preserve diversity in employment
Possible countermeasures

Not applicable, monitoring only.

Changes of indicator

This indicator was originally number 12.1. It was then named Employment and can be found under that number in documents of the project from 2005 and 2006.

The indicator number has been changed twice.

Table 1. Changes to name and number of indicator
Year Nr. Indicator name
2020 3.4.1 Jobs in key economic sectors
2007 1.12b Employment

Baseline

Table 2. Employment structure of Iceland and East Iceland in 2003 (baseline).
Line of work East Iceland (% of total) Countryside (% of total) Capital region (% of total) Iceland (% of total)
Agiculture 6,2% 8,9% 0,6% 2,7%
Fishing 8,0% 7,0% 1,1% 3,5%
Fish processing 16,7% 8,6% 0,5% 4,1%
Another industry 7,8% 9,8% 10,7% 10,9%
Utilities 0,9% 1,4% 0,8% 1,0%
Civil engineering 6,3% 8,2% 6,1% 6,8%
Trade and repair services 8,9% 9,8% 15,0% 13,6%
Hotels and restaurants 3,0% 2,5% 4,2% 3,6%
Transport and transportation 5,4% 4,7% 7,0% 6,8%
Financial services 2,0% 2,8% 4,6% 3,8%
Real estate and business services 3,6% 4,6% 11,7% 7,7%
Public administration 8,7% 4,2% 5,7% 6,9%
Educational activities 5,4% 7,4% 8,0% 7,0%
Health and social work 11,2% 14,7% 16,4% 14,8%
Other activities not specified 5,7% 5,3% 7,5% 6,9%

Source: Statistics Iceland

Rationale for Indicator Selection

There is a need to preserve and enhance economic diversity in East Iceland. A diverse economy, without over-reliance on one employment sector, is more likely to be stable for the long term. Both employment directly resulting from Alcoa and Landsvirkjun operations, as well as employment indirectly affected by Alcoa and Landsvirkjun, will be monitored. The ratio of Alcoa and Landsvirkjun employment to total local employment is measured to help indicate the degree to which the local communities rely on the projects for economic and employment diversity.

From phase I/II report on indicators and baseline from April 2005