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NORWAY: Little In October LFS Survey To Sway Norges Bank

NORWAY

There isn’t much in the Norwegian October LFS survey to sway the Norges Bank from its previously communicated guidance of a first cut in Q1 2025. The Norwegian trend unemployment rate was steady at 4.0% for the eight consecutive month, while the seasonally adjusted rate ticked up a tent to 4.1%. 

  • Employment growth rose 0.4% Q/Q (October vs July) and 1.3% Y/Y. This sees the participation rate steady around 73%, towards the upper end of its post-covid range.

 

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There isn’t much in the Norwegian October LFS survey to sway the Norges Bank from its previously communicated guidance of a first cut in Q1 2025. The Norwegian trend unemployment rate was steady at 4.0% for the eight consecutive month, while the seasonally adjusted rate ticked up a tent to 4.1%. 

  • Employment growth rose 0.4% Q/Q (October vs July) and 1.3% Y/Y. This sees the participation rate steady around 73%, towards the upper end of its post-covid range.