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The unemployment rate is finally falling

Foto: Scanpix
The unemployment rate in Norway is finally on the decline. New numbers from Statistics Norway indicate a decrease of 1,000 people.

The unemployment rate was 109,000 people in September, leaving the unemployment rate at 4.6 percent. The analysts are surprised by the fall.

“It has been flat for several months, and now it falls with 1000,” said Erik Bruce, analyst in Nordea Markets, to TV 2 Nettavisen. “It’s hard to say if the unemployment rate is in a downward trend, but it confirms at least that it’s not increasing. We suspected a marginal increase, but this is more favorable than expected.”

However, Bruce said that he does not expect to see a considerable fall in the unemployment rate until next year.

“That’s when the growth in the economy will really kick in, and it will show in the unemployment numbers,” Bruce said.

According Statistics Norway, season based numbers indicate that the number of employed individuals increased with 10,000 persons during the three month period from May-June to August-October.

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