the Unemployment rate fell by 700 people during the month of December, according to seasonally-adjusted figures from the NAV.
the Sum of all the available and job seekers on measures fell to 200 persons.
the Unemployment rate remained stable in the year, but there are still large regional differences. The unemployment rate has increased in parts of Western norway, while it has gone down in other parts of the country. It now runs a little better in the counties that are affected by the decline in the oil industry and we expect that the unemployment rate overall will go down from next year, says employment and velferdsdirektør Sigrun Vågeng in a press release.
on average, The unemployment rate remained at 3.0 per cent of the workforce in 2016 as in 2015. The unemployment rate increased much through 2015, particularly in large parts of Western norway. The unemployment rate has continued to increase on the west coast through the end of 2016, but less than last year, ” states NAV.
California had the largest percentage increase in the unemployment rate, while Finnmark and Nordland were the counties with the greatest decline.
Unemployment rose (percentage-wise) the most in the engineering and ICT subjects, as well as brokers and consultants, while it fell most in the construction industry.
78.600 available
In December was 78.600 persons registered as totally available with NAV, 2.300 fewer than in December of last year.
the Unemployment rate is now at 2.8 per cent of the workforce, down from 3.0 percent in December last year.
the Consensus pointed to advance toward an increase in the unemployment rate to 2.9 per cent.
In all, 98.500 people are now either unemployed or job-seekers who participate in measures (bruttoledigheten), 1.600 more than one year ago. This corresponds to 3.6 per cent of the workforce, the same level as last year.
Source: NAV.
- Does not affect Norges Bank
Among those who had expected a slight rise in the unemployment rate, was Handelsbanken.
- Norges Bank lay inside with a forecast of 3.0 per cent registered unemployment in December. The central bank is currently concerned about the housing market, and small, monthly deviation of the unemployment rate will probably not have a significant impact on monetary policy. On the margin, today’s figures help the central bank to continue to lean against the wind, it will say to keep the key policy rate is higher due to the rapid boligprisveksten, writes senior economist Halfdan Fenwick Grangård in a comment.
Makroøkonom Jeanette Power Flow at DNB Markets pointed out that the numbers are coming a little earlier than normal, and that the exposed meldefrister therefore can make performing seasonal adjustment less accurate than in other months.
- the LFS unemployment rate continues to be higher than the registered unemployment rate, with flat employment over a long time. It indicates that the labour market may be a little weaker than the registered ledighetstallene alone indicates. It looks as if most of the increase in unemployment is behind us, but we believe that the unemployment rate may rise somewhat further until the next year, she writes in her comment.
Oljebremsen on in the west
In December had oljetunge Hordaland county experienced the largest increase in the unemployment rate in the last year, with 15 per cent. Then follow Vestfold and Møre and Romsdal, both on nine per cent.
the Unemployment rate has fallen most in Telemark and Nord-Trøndelag the past year, in particular with resp. 18 and 17 per cent.
the Unemployment rate is highest in Rogaland and Aust-Agder, respectively. 4.5 and 3.5 per cent. Sogn and Fjordane and Oppland have the lowest unemployment rate respectively. 1.6 and 1.8 per cent respectively.
the Highest in the industry
the Unemployment rate has in the last year fell the most in building and construction work – 16 per cent. Within the engineering and ICT subjects, unemployment has increased by 21 per cent in the same period.
In December, the corresponding figures were the highest within manufacturing – 4.9 per cent of the labour force.
the Unemployment rate was the lowest within undervisningsyrker and academic careers, respectively. 0,6 and 1,1 percent, respectively.
More long-term unemployed
NAV figures also show that 47 per cent of the totally available in December have been job seekers for more than half a year. At the same time last year, this proportion was 43 per cent.
There is thus a small increase in the langtidsledigheten.
at the same time, there are fewer new available. 5,000 or less have been job-seekers in under a half-year compared to last year, at the same time has 2.700 more been job seekers for more than half a year. Most of this increase has happened in Rogaland and Hordaland, and it is especially within the engineering and ict disciplines and the manufacturing that several have been available for more than one year.
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