Free Trial

Unemployment In Line - Labour Market Still Shows Tightness


Norwegian unemployment inline with Norges Bank view of "still tight" labour market

  • This morning's 1.8% unemployment rate was in line with consensus and steady vs September. September's MPR forecasted unemployment at 1.87% in Q3 and 1.95% in Q4 - meaning today's release confirms the bank's view that jobs markets are "still tight"
  • Vacancies rose by 1,800 per working day, 15% fewer vs October 2022. While demand for labour is still high, there is thus some evidence of softening.
  • NOK did not react meaningfully on the release, but sits weaker against the G10 on the day - with NOKSEK 0.4% lower at typing.

To read the full story



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.