Norwegian unemployment falls less than expected in December

Norwegian jobless rate dropped in December by less than anticipated; however, downward trend is still rather robust. Registered unemployment including those on labor market measures dropped 400 by persons in persons in December. A drop of 1000 persons was anticipated by Nordea Bank. The unadjusted rate came in at 2.4 percent, as compared with consensus expectation of 2.3 percent.

Unemployment in Norway dropped less than expected. Still, in spite of the weakness in December, unemployment is down on average 1300 person a month the last three months compared to 1100 persons in the first part of 2017, stated Nordea Bank. The rather strong downward trend is unlikely to have been over with today’s figure.

The forecast of Norwegian central bank suggested an about unchanged unemployment in December and will most likely conclude that today’s figure was consistent with that, added Nordea Bank.

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