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August Labour Force Survey Results

NORWAY

Norway's Trend Unemployment Rate for August came in at 3.5%, which has been steady since March 2023 based on revised figures.

  • This is not the Norges Bank's preferred unemployment measure. The unemployment claims rate, produced by the labour and welfare administration is due on Friday (1.9% in August, 1.9% expected).
  • Norges Bank expects unemployment to rise gradually and to above 2% by 2025.
  • The employment rate was 70.3% (vs 70.3% in June and July, 70.2% in May). Norges Bank expects a slight uptick in employment in Q4 2023, while 2024 is expected to see the number of employed persons fall somewhat.

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