Norway's seasonally adjusted unemployment rate stood at 5.2 percent in the three months to October 2020, unchanged from the May-July period, but below market expectations of 5.3 percent. The number of unemployed declined by 1,000 from the three months to July to 147,000 while the number of employed increased by 17,000 to 2.705 million. A year earlier, the unemployment rate was 3.9 percent. source: Statistics Norway
Unemployment Rate in Norway averaged 3.69 percent from 1997 until 2020, reaching an all time high of 5.30 percent in August of 2020 and a record low of 2.40 percent in October of 2007. This page provides the latest reported value for - Norway Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Norway Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Unemployment Rate in Norway is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Norway to stand at 4.70 in 12 months time. In the long-term, the Norway Unemployment Rate is projected to trend around 4.40 percent in 2021 and 3.70 percent in 2022, according to our econometric models.