Unemployment in Norway increases
Unemployment in Norway increased during June and sits at two percent, the latest figures from the Norwegian Labour and Welfare Administration show.
At the end of June, Norway’s unemployment rate was two percent, according to figures released by Friday.
The figures from the Norwegian Labour and Welfare Administration (NAV) show that there 58,700 people registered as unemployed or job seekers.
June’s unemployment rate was higher than expected, according to estimates obtained by Bloomberg. NAV had expected the unemployment rate to be 1.8 percent for June.
Unemployment was rising the most in sectors most affected by the economic cycle.
“Unemployment rose somewhat again in June, and during the first half of the year, there have been 3,200 more unemployed. Unemployment is increasing in cyclically sensitive occupations such as construction and engineering and IT subjects, while it is decreasing slightly in occupations in, among other things, industry and the public sector,” Hans Christian Holte, director of employment and welfare at NAV, said.
Kyrre M. Knudsen, chief economist at Sparebank 1, told the business and financial news publication Dagens Næringsliv that the numbers were to be expected.
“This was about as expected. Unemployment remains at very low levels in nearly all regions and all industries. That is because the Norwegian economy is still doing quite well. There is some increase (in unemployment) in construction, which is due to lower activity in both new construction (housing) and infrastructure projects. Unemployment also increases somewhat in engineering and IT subjects, while it decreases slightly in occupations in industry and the public sector, among other things. There are still many vacancies, although there is a slight decrease from last year,” Knudsen said.
READ ALSO: Everything you need to know if you lose your job in Norway
Unemployment rose highest in the counties of Agder and Møre og Romsdal. The number of those out of work increased across all age brackets. However, the rise was greatest for people in their 30s.
Additionally, the demand for labour also decreased in June. Around 20 percent fewer positions per working day are being published on the job portal arbeidsplassen.no.
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At the end of June, Norway’s unemployment rate was two percent, according to figures released by Friday.
The figures from the Norwegian Labour and Welfare Administration (NAV) show that there 58,700 people registered as unemployed or job seekers.
June’s unemployment rate was higher than expected, according to estimates obtained by Bloomberg. NAV had expected the unemployment rate to be 1.8 percent for June.
Unemployment was rising the most in sectors most affected by the economic cycle.
“Unemployment rose somewhat again in June, and during the first half of the year, there have been 3,200 more unemployed. Unemployment is increasing in cyclically sensitive occupations such as construction and engineering and IT subjects, while it is decreasing slightly in occupations in, among other things, industry and the public sector,” Hans Christian Holte, director of employment and welfare at NAV, said.
Kyrre M. Knudsen, chief economist at Sparebank 1, told the business and financial news publication Dagens Næringsliv that the numbers were to be expected.
“This was about as expected. Unemployment remains at very low levels in nearly all regions and all industries. That is because the Norwegian economy is still doing quite well. There is some increase (in unemployment) in construction, which is due to lower activity in both new construction (housing) and infrastructure projects. Unemployment also increases somewhat in engineering and IT subjects, while it decreases slightly in occupations in industry and the public sector, among other things. There are still many vacancies, although there is a slight decrease from last year,” Knudsen said.
READ ALSO: Everything you need to know if you lose your job in Norway
Unemployment rose highest in the counties of Agder and Møre og Romsdal. The number of those out of work increased across all age brackets. However, the rise was greatest for people in their 30s.
Additionally, the demand for labour also decreased in June. Around 20 percent fewer positions per working day are being published on the job portal arbeidsplassen.no.
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