Norway’s labor market may deteriorate in near future

Norway's Labor Force Survey (LFS) reveals the country's unemployment rate remained steady at 4.6% in September. The unemployment rate for the reference month is as expected. The last year unemployment rate risen by around 0.9% point. Employment rate increased by 0.6%y/y.

"We do not think the flat LFS unemployment figure changed Norges Bank's view significantly. If anything that we saw no further rise in unemployment might have dampen Norges Bank fear that the labour market deteriorates faster than expected", says Nordea Bank.