The latest Labour Force Survey released by Statistics Norway (SSB) presents promising figures for Norway’s labor market. As of May 2023, the unemployment rate stood at 3.5 per cent, indicating a stable employment situation amidst challenging economic conditions. This data is crucial for policymakers and businesses alike, as it reflects the current state of the nation’s workforce.
The number of unemployed persons in May 2023 remained steady at 103,000, showing no change from the previous month. This resilience in the face of economic fluctuations suggests that the labor market is holding firm, providing a sense of security to job seekers and employees alike.
Moreover, the survey revealed positive growth in the number of employed persons. In May 2023, the country recorded an increase of 4,000 individuals in employment compared to the previous month, bringing the total number of employed persons to 2,870,000. This demonstrates an upward trend in hiring and job opportunities across various sectors in Norway.
In percentage terms, the employment rate for persons aged 15-74 reached 70.1 per cent in May 2023, showing a slight increase of 0.1 per cent compared to the previous month. This indicates that a higher proportion of the population is actively engaged in the workforce, contributing to the overall economic activity of the nation.
The steady unemployment rate and the rise in employment figures reflect the resilience and adaptability of Norway’s labor market amid economic uncertainties. It also highlights the effectiveness of the government’s policies and businesses’ efforts to maintain a stable workforce.
The next update for the Labour Force Survey is scheduled for 27 July 2023. This regular update allows authorities and stakeholders to closely monitor labor market developments, identify trends, and formulate appropriate strategies to support employment growth and economic stability.
https://www.ssb.no/en/arbeid-og-lonn/sysselsetting/statistikk/arbeidskraftundersokelsen