NAV Norway Unemployment Rate n.s.a.

Country:
Norway
NOK, Norwegian Krone
Sector:
Labor
Medium 2.1% 1.8%
1.9%
Last release Importance Actual Forecast
Previous
2.0%
2.1%
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
Jan 2024
2.1%
1.8%
1.9%
Dec 2023
1.9%
1.8%
1.8%
Nov 2023
1.8%
1.7%
1.8%
Oct 2023
1.8%
1.7%
1.8%
Sep 2023
1.8%
1.9%
1.9%
Aug 2023
1.9%
1.8%
1.8%
Jul 2023
1.8%
1.6%
1.7%
Jun 2023
1.7%
1.6%
1.7%
May 2023
1.7%
1.7%
1.8%
Apr 2023
1.8%
1.8%
1.8%
Mar 2023
1.8%
1.9%
1.9%
Feb 2023
1.9%
1.7%
1.9%
Jan 2023
1.9%
1.6%
1.6%
Dec 2022
1.6%
1.6%
1.6%
Nov 2022
1.6%
1.6%
1.6%
Oct 2022
1.6%
1.6%
1.6%
Sep 2022
1.6%
1.6%
1.6%
Aug 2022
1.6%
1.6%
1.7%
Jul 2022
1.7%
1.6%
1.6%
Jun 2022
1.6%
1.7%
1.6%
May 2022
1.6%
1.9%
1.9%
Apr 2022
1.9%
2.1%
2.0%
Mar 2022
2.0%
2.4%
2.2%
Feb 2022
2.3%
2.4%
2.6%
Jan 2022
2.6%
2.1%
2.2%
Dec 2021
2.2%
2.1%
2.1%
Nov 2021
2.1%
2.3%
2.2%
Oct 2021
2.2%
2.5%
2.4%
Sep 2021
2.4%
2.9%
2.7%
Aug 2021
2.7%
3.0%
3.1%
Jul 2021
3.1%
3.1%
2.9%
Jun 2021
2.9%
3.7%
3.3%
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%

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