Norway's seasonally adjusted unemployment rate stood at 3.8 percent in the three months to November 2019, the same as in the June-August period but below market expectations of 3.9 percent. The number of unemployed was unchanged at 108,000 while the number of employed increased by 1,000 to 2.731 million. A year earlier, the unemployment rate was at 4.0 percent. Unemployment Rate in Norway averaged 3.66 percent from 1997 until 2019, reaching an all time high of 5.10 percent in January of 2016 and a record low of 2.40 percent in October of 2007. source: Statistics Norway
Unemployment Rate in Norway is expected to be 3.60 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 3.80 in 12 months time. In the long-term, the Norway Unemployment Rate is projected to trend around 3.60 percent in 2020, according to our econometric models.