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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NORWAY
Norwegian LFS trend unemployment was 4.1% in May, with April’s reading revised a tenth higher to 4.1%. In seasonally adjusted terms, the rate fell two tenths to 4.1%.
- The registered unemployment rate (equivalent to a claimant count rate) for May was 2.0%, meaning the wedge between the LFS and registered metrics fell to 2.1pp from 2.4pp in April.
- In the June MPR, the Norges Bank noted that “The difference between NAV unemployment and LFS unemployment can largely be explained by the fact that the LFS better captures unemployed youths aged 15 to 19”.
- Norges Bank has pointed to the impact of Ukrainian refugees in pushing up unemployment in the quarters ahead, as these people are “assumed to register as job seekers in the years ahead”.
- LFS employment growth was -0.1% M/M in May, but this follows a strong 0.5% in April. The employment rate ticked down a touch to 69.6% SA.
- Tomorrow sees the release of registered unemployment data for June, alongside Norges Bank’s daily FX purchases for July.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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