Women outnumber men in workforce growth in the Faroe Islands

According to figures from the Faroese Statistics Bureau, there are now more women in the workforce than a year ago. As of August 1, the labor force comprised 29,402 individuals, consisting of approximately 15,000 men and 14,450 women.

Since August of last year, the number of women has increased by 180, reflecting a growth rate of 1.2 percent. In contrast, the number of men has grown by only 0.7 percent, adding 100 men to the workforce.

Over half of the workforce, 54 percent, is above the age of 40. Notably, the official retirement age does not apply to everyone, as 0.3 percent of workers, totaling 88 individuals, are aged 80 or older. Additionally, three percent, equating to 888 individuals, fall within the 70 to 80 age bracket.

Moreover, one-third of the workforce without any residency ties comes from Asia. Residency ties are defined as individuals who have lived in the Faroe Islands for at least half of their lives or for seven out of ten consecutive years at some point in their lives. As of August 1, there were 1,877 workers in the Faroe Islands without residency ties.