NAV expects high unemployment in Norway at the end of 2022

NAVPhoto: Stian Lysberg Solum / NTB

The Norwegian Labour and Welfare Administration (NAV) expects a significant improvement in the labor market in the future. However, unemployment is still expected to be much higher than before the corona crisis at the end of 2022.

The NAV expects that this year there will be an average of 104,000 workers registered as completely unemployed, and that the number will drop to 87,000 next year, according to a press release. 

That corresponds to a registered unemployment rate of 3.7% and 3.0% of the labor force, respectively.

In comparison, there was an average of 63,400 completely unemployed workers in 2019, which is 2.3% of the labor force.

“Even though we expect a significant improvement in the labor market, and especially during the second half of this year, there is still a long way before we are back in the situation we had in the labor market before the corona crisis. 

“Unemployment will still be at a much higher level by the end of 2022 than it was before the corona crisis,” NAV chief Hans Christian Holte noted.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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