Norway Unemployment Rate

Country:
Norway
NOK, Norwegian Krone
Sector:
Labor
Medium 4.1% 3.8%
4.3%
Last release Importance Actual Forecast
Previous
3.9%
4.1%
Next release Actual Forecast
Previous
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Norway's Unemployment Rate reflects the rate of currently unemployed residents to the total civilian labor force. The employed are defined as persons aged between 15 and 74, who worked in gainful employment for at least one hour in the reported period, as well as those who had a job but were absent from work due to illness, vacation, strikes, etc.

The indicator is calculated by Statistics Norway (SSB) based on the telephone survey of labor force, which is conducted every quarter. The sample includes 12,000 families or 24,000 persons. Respondents answer questions about to their employment during the survey week. Each family from the sample receives questionnaires every 3 months, for two years, that is, it participates in the study 8 times. After that the selection is updated.

The unemployed are the persons who did not work during the survey week. A three-month average of responses is calculated for the final indicator, while the data is seasonally adjusted and is published with a one-month delay. Also, information on unemployment is sent to Eurostat which collects and compiles general European statistics.

The unemployment rate is an important indicator 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 forecast readings are seen as negative for the Norwegian economy and for the national currency quotes.

Last values:

actual data

forecast

The chart of the entire available history of the "Norway Unemployment Rate" 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 2024
4.1%
3.8%
4.3%
Apr 2024
4.3%
3.7%
4.0%
Mar 2024
4.0%
3.4%
3.4%
Feb 2024
3.6%
4.0%
4.5%
Jan 2024
4.5%
3.4%
3.5%
Dec 2023
3.5%
3.9%
3.8%
Nov 2023
3.7%
3.8%
3.7%
Oct 2023
3.6%
3.2%
3.5%
Sep 2023
3.5%
3.3%
3.6%
Aug 2023
3.6%
3.7%
3.6%
Jul 2023
3.5%
3.4%
3.4%
Jun 2023
3.4%
2.7%
3.1%
May 2023
3.0%
3.2%
3.6%
Apr 2023
3.5%
3.8%
3.7%
Mar 2023
3.7%
4.2%
3.9%
Feb 2023
3.9%
4.0%
3.6%
Jan 2023
3.7%
3.2%
3.4%
Dec 2022
3.4%
3.1%
3.1%
Nov 2022
3.1%
3.3%
3.2%
Oct 2022
3.3%
3.3%
3.4%
Aug 2022
3.2%
3.0%
3.1%
Jul 2022
3.1%
3.2%
3.2%
Jun 2022
3.2%
3.3%
3.2%
May 2022
3.2%
3.4%
3.2%
Apr 2022
3.2%
3.0%
3.1%
Mar 2022
2.9%
3.3%
3.1%
Feb 2022
3.1%
3.3%
3.1%
Jan 2022
3.2%
3.3%
3.3%
Dec 2021
3.3%
3.6%
3.5%
Nov 2021
3.5%
3.7%
3.6%
Oct 2021
3.6%
3.6%
3.6%
Sep 2021
3.6%
4.0%
4.0%
Aug 2021
4.0%
4.1%
4.3%
Jul 2021
4.2%
4.7%
4.8%
Jun 2021
4.8%
4.8%
4.8%
Dec 2020
5.0%
5.0%
Nov 2020
5.0%
5.1%
5.2%
Oct 2020
5.2%
5.2%
5.2%
Sep 2020
5.2%
5.3%
5.3%
Aug 2020
5.3%
5.6%
5.2%
Jul 2020
5.2%
5.6%
5.2%
Jun 2020
5.2%
4.5%
4.6%
May 2020
4.6%
4.5%
4.1%
Apr 2020
4.2%
3.9%
3.6%
Mar 2020
3.6%
3.6%
3.5%
Feb 2020
3.5%
3.7%
Jan 2020
3.8%
3.9%
Dec 2019
3.9%
4.0%
Nov 2019
4.0%
3.8%
Oct 2019
3.8%
3.9%

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