NAV Norway Unemployment Rate n.s.a.

Country:
Norway
NOK, Norwegian Krone
Sector:
Labor
Medium 3.3% 4.1%
4.0%
Last release Importance Actual Forecast
Previous
3.7%
3.3%
Next release Actual Forecast
Previous
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NAV Unemployment rate n.s.a. reflects a change in the rate of currently unemployed residents to the total civilian labor force. NAV Unemployment Rate in Norway is measured based on the data provided by the Norwegian Labour and Welfare Administration (NAV).

The unemployed are defined as residents of Norway aged between 16 and 65 who were ready to start work but did not worked during the reported week, who have been seeking employment within the previous four weeks by applying to an employment agency or an employer directly, or by responding to job ad.

The Norwegian Labour and Welfare Administration (NAV) collects unemployment data based on applications submitted to NAV by job seekers. Only applications submitted or updated in the previous two weeks are included in the report.

The indicator is used to assess the state of the labor market. It is not a forecast indicator, while its growth or decline is a result of changes in the economic situation.

Unemployment is important both from the social and economic point of view. The growth of unemployment leads to a decrease in the incomes of individuals and therefore to a decrease in consumer activity. In addition, this increases the pressure on the state budget and reduces tax revenues. Therefore, higher than expected indicator readings can be seen as negative for Norway krone quotes.

Last values:

actual data

forecast

The chart of the entire available history of the "NAV Norway Unemployment Rate n.s.a." macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
May 2021
3.3%
4.1%
4.0%
Apr 2021
4.0%
4.3%
4.2%
Mar 2021
4.2%
4.4%
4.3%
Feb 2021
4.3%
4.1%
4.4%
Jan 2021
4.4%
3.9%
3.8%
Dec 2020
3.8%
3.7%
3.9%
Nov 2020
3.9%
3.6%
3.5%
Oct 2020
3.5%
4.0%
3.7%
Sep 2020
3.7%
4.6%
4.3%
Aug 2020
4.3%
4.9%
4.9%
Jul 2020
4.9%
7.6%
4.8%
Jun 2020
4.8%
5.0%
6.4%
May 2020
6.4%
6.9%
9.6%
Apr 2020
9.6%
10.7%
Mar 2020
10.7%
2.3%
Feb 2020
2.3%
2.4%
Jan 2020
2.4%
2.2%
Dec 2019
2.2%
2.1%
Nov 2019
2.1%
2.1%
Oct 2019
2.1%
2.2%
Sep 2019
2.2%
2.3%
Aug 2019
2.3%
2.4%
Jul 2019
2.4%
2.1%
Jun 2019
2.1%
2.1%
May 2019
2.1%
2.3%
Apr 2019
2.3%
2.4%
Mar 2019
2.4%
2.5%
Feb 2019
2.5%
2.6%
Jan 2019
2.6%
2.3%
Dec 2018
2.3%
2.3%
Nov 2018
2.3%
2.2%
Oct 2018
2.2%
2.3%
Sep 2018
2.3%
2.4%
Aug 2018
2.4%
2.5%
Jul 2018
2.5%
2.2%
Jun 2018
2.2%
2.2%
May 2018
2.2%
2.4%
Apr 2018
2.4%
2.5%
Mar 2018
2.5%
2.5%
Feb 2018
2.5%
2.6%
Jan 2018
2.6%
2.4%
Dec 2017
2.4%
2.3%
Nov 2017
2.3%
2.4%
Oct 2017
2.4%
2.5%
Sep 2017
2.5%
2.7%
Aug 2017
2.7%
2.8%
Jul 2017
2.8%
2.6%
Jun 2017
2.6%
2.6%
May 2017
2.6%
2.8%
Apr 2017
2.8%
2.9%

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