Unemployment in Norway this year might be higher than expected

Unemployed NAVPhoto: Gorm Kallestad / NTB

In the revised national budget (RNB) for 2021, it is estimated that unemployment in Norway will end at 3.5% this year. That is higher than what was estimated last autumn.

When the Norwegian government presented the national budget in October last year, they estimated that 3.1% of Norwegians would be registered as unemployed in 2021. The new estimate is thus 0.4% higher.

Unemployment in 2020 ended at 5.0%, the figures for registered unemployed workers from the NAV showed.

In the Labor Force Survey (LFS), it is estimated that unemployment will end at 4.4% by the end of 2021.

Minister of Labor and Social Affairs Torbjørn Røe Isaksen told NTB on Monday that he fears that long-term unemployment will take hold in the country.

“If we do not fight against this with powerful measures and make good political choices, we can see it stick,” Isaksen said.

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

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