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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
The Norwegian LFS trend unemployment rate rose to 3.9% (vs an upwardly revised 3.8% prior). This is not the main unemployment rate tracked and forecasted by the Norges Bank (they look more closely at the unemployment claims rate).
- Nonetheless, the LFS rate has drifted higher since August '23 (from 3.6% to 3.9% now), while the unemployment claims rate has been steady at 1.9%.
- The Norges Bank will thus still be watchful of trends in the LFS rate, in case these dynamics begin to show themselves in the claims data.
- In her annual address, Governor Wolden Bache noted that Norway should be prepared for "somewhat higher unemployment", even with rates unlikely to be raised above their current 4.5% level.
- Preliminary data on employment and earnings from today's survey shows the number of employees rising 1.0% M/M (SA), number of jobs rising 1.2% M/M (SA) and average renumeration in NOK rising 1.6% M/M.
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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