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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
Norway's seasonally adjusted unemployment claims rate remained steady at 1.9% - the 5th consecutive month at this level.
- This puts unemployment in line with Norges Bank's Q4 2023 forecast of 1.91%. The bank expects the labour market to weaken through 2024 as dampened economic activity weighs on employment growth. Q4 2024 unemployment is seen at 2.24%.
- The Q4 Regional Network survey indicated as much, with firms in all sectors other than oil services expecting negative or very low employment growth in Q1 2025.
- On the demand side, the Q4 Network survey saw a fall in the number of firms indicating labour shortages while this month's data from NAV indicates vacancies fell by 3% Y/Y in December. Both contribute to loosening pressures on the labour market.
- The claims data follows a slight increase in the November LFS unemployment rate to 3.7% (vs 3.6% prior). The wedge between the unemployment claims and LFS rates has generally been between 1.5-2ppts in recent years.
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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