Unemployment in Norway

Norway Unemployment | Economic News & Forecasts

Norway - Unemployment

The economy likely recovered in Q3, following the sharp contraction recorded in Q2. GDP grew mildly in August, slowing from July’s level as household spending lost steam—evidenced by a slowdown in retail sales during the month—and coming amid decelerating industrial production growth. More positively, merchandise exports in September shrank at the softest rate since February as oil production picked up from April’s nadir. Additionally, merchandise imports expanded for the fourth consecutive month, signaling improving domestic demand. Meanwhile, the government announced its draft budget for 2021, totaling NOK 315 billion—around USD 35 billion and nearly 10% of Mainland GDP—and continuing the expansionary stance of the previous year’s plan. Details include a growth-promoting cut to working capital and measures to continue mitigating the pandemic’s impact on the labor market.

Norway - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate4.5  4.7  4.2  3.8  3.7  

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Norway Unemployment Chart


Norway Unemployment
Note: Unemployment in % of active population.
Source: Statistics Norway.

Norway Facts

Value Change Date
Bond Yield1.58-0.65 %Jan 01
Exchange Rate8.78-0.38 %Jan 01

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