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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 February SA unemployment claims rate was 1.9% for the 6th consecutive month. Combined with a 9% Y/Y increase in vacancies, the Norwegian labour market remains tight, and may continue to exert upward pressure on wages, hampering the disinflation process.
- In the December MPR, Norges Bank forecasted unemployment at 1.98% in Q1 '24, rising to 2.24% at the end of the year.
- A reminder that while the unemployment claims rate has remained steady in recent months, the LFS unemployment rate has drifted higher (last at 3.9% in January). We remain watchful of whether these trends will begin to show themselves in the claims data.
- Elsewhere, the February manufacturing PMI rose to 51.9 (vs an upwardly revised 51.1 prior). The employment index rose to 53.2 from 51.8 in January. With the exception of July last year, this sub-index has been above 50 since September 2020.
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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