Unemployment Declines to Record Low Level in Norway

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Unemployment Declines to Record Low Level in Norway


Category: Financial / Investment

Unemployement rate in Norway has fallen to 2.6 percent in June, shows new figures from Norwegian Labour and Welfare Administration (NAV).

71,500 people were registered as fully unemployed in June 2017. It is 9,500 fewer than in the same period of the previous year, according to NAV.

– The positive trend we have seen in the labor market so far this year continued in June. With increased growth in the Norwegian economy, more vacancies and fewer notice of termination, we also expect unemployment to continue dropping further, says Sigrun Vågeng, Minister for Employment and Welfare, in a press release.

Talking to NRK, Prime minister Erna Solberg says that Norwegian economy has a bright prospect at the moment.

– This means that we are over the worst crisis due to a sharp fall in oil prices, says Prime Minister Erna Solberg to NRK.

Industry and Construction Sectors Are the Worst

In the end of June, unemployment was highest in industrial work, construction, tourism and transport, both with 3.9 percent.
Unemployment rate is highest in Rogaland county with 3.7 percent and in Agder with 3.1 percent unemployment rate.