The labor market is approaching pre-pandemic levels. Nav forecasts indicate that unemployment next year will be lower than it was before the pandemic crisis.
"The improvement in the labor market is faster than we imagined and there is little indication that unemployment will continue at a higher level," said Hans Christian Holte, director of labor and social welfare in the press release.
From March to October, the total number of unemployed fell by 37. Both the fully and partially unemployed fell by 68,7 thousand unemployed.
- The crisis on the labor market is over, says Holte.
Lower unemployment next year than before the pandemic
Nav predicts a solid recovery of the Norwegian economy in the coming years. This will lead to a further improvement in unemployment.
This year, according to Nav estimates, an average of 88 thousand. will be completely unemployed. Next year, this number may drop to 64, and in 2023 by another 4. This corresponds to a registered unemployment rate of 3,3%. this year and, respectively, 2,2 and 2,1 percent.
- Registered unemployment will, on average, be lower than before the pandemic, both next year and in 2023. Putting it a bit in perspective, we have lower unemployment than in two of the last 30 years, says Holte.
Certain occupational groups are particularly vulnerable
He emphasizes that while the overall picture is positive, the pandemic has created some imbalances in the labor market.
– Some professional groups, such as tourism and transport, they are still very high unemployment, and many of them have been unemployed for a long time. As a result, more people are likely to need help with Nav to return to work.
Source: NTB
Photo: Lise Åserud / NTB
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