Norway’s labor market shows improvement

Registered unemployment in Norway in October recorded a sharp increase and stood close to 2,000 persons. Analysts argued that the surge is temporary and it may improve. The reading inched up by only 700 persons in November. Consensus expected it to increase by 1,500 persons in the same month.

"The correction back in retail sales was not as strong as we had expected and we still believe Norges Bank will view consumption figures as on weak side. Still, more important was that registered unemployment increased less than Norges Bank have forecasted", says Nordea Bank.