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STF01025 Employees and jobs by institutional sector, main activity, employee's region of residence and month (1985M01-2024M12)

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Maria Heen
1/14/2025
number
M
2/14/2025
8/29/2024
Yes
Statistics Faroe Islands: www.hagstova.fo/en
STF01025_OKI_MD
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 ••• Not disclosed, confidentiality/privacy protected According to the International Labour Organization (ILO) persons in employment are those of working age who, during a short reference period, were engaged in any activity to produce goods or provide services for pay or profit. This is comprised ofa) employed persons 'at work', who worked for at least one hour during the reference period (often set to one week); andb) employed persons 'not at work' due to temporary absence (such as shift work, flex time, compensatory leave for overtime, parental leave or illness).The source to employment numbers are monthly wages in cash paid by an employer to an employee through the pay-as-you-earn (PAYE) tax system. In accordance with the international standards, a monthly wage threshold is set at 4 times the hourly minimumwage+holidaypay from the collective agreement between the Faroese Worker's Union (FA) and the Faroese Employers Association (FEA). Thus, if the montly wage received is below the mark, the person is not coinsidered an employee that month. The Faroese Safety Authority states that children under the age of 13 cannot be employed, which thus is set to be the minimum age threshold.In accordance with the above mentioned an employee is set to be a person at age 13 or above, who in the relevant month received a wage of minimum one hour a week or more through the pay-as-you-earn (PAYE) tax system.

employee's region of residence

The municipality in which the employee lives. Values are only shown for municipalities with over 1,500 residents in the particular month.

institutional sector

Institutional sectors are the sorting of institutional entities by economic activity. The economic activity is determined by whether the goods and services produced are for the market, whether the ownership is public or private, as well as the type of production. The definitions and terms used are based on the guidelines provided in the 'System of National Accounts' (SNA) by the United Nations and the 'European System of Accounts' (ESA) by Eurostat. In the wage and employment statistics the institutional sectors are grouped differently than normal. Non-financial corporations, finacial corporations, households and organizations are grouped together and divided by whether the ownership is public, private or foreign. Public administration and services is unchanged and is divided in to central government, state government, local government and social security funds. 'The Rest of the World' is a separate institutional sector, which is grouped together with unknown sector, if any.

employer's main activity

Main activity is attached to the employer that pays the wage. An employer is grouped in to the main activity in which he has the largest activity. A person may have several employers, and the employer from which the most wage is paid is set to be the person's main activity of work. Main activity is not necessarily the actual economic activity of the work done for the wages paid as an employer may cover several economic activities. Main activity is based on the international statistical classification of economic activities NACE rev. 2. The first and second level are directly comparable. The third level opens up a few subgroups in order to best portray the national economy. On the third level there are 93 economic activities.

measure

Employees (main job)

Main job of an employee is set to be the main activity and institutional sector of the employer from which the largest wage is received. An employee only counts once.

Main- and minor jobs

Counts the total of main- and minor jobs together in the institutional sector/economic activity. An employee can have multiple counts due to several jobs in each institutional sector/economic activity.

Minor jobs

Counts the number of minor jobs in the institutional sector/economic activity. An employee can have multiple counts. Main jobs are excluded.

Jobs across economic activities

This value portrays the number of employees in each institutional sector/main activity when minor jobs are also included. An employee can only count once in each institutional sector/economic activity, but several times across. Thus the number is higher than the measure of number of employees (main job).

Employers

Counts the number of employers. Employers count only once, which is in their main activity.”