In the previous quarter, the NAV reckoned that unemployment would still be at a much higher level by the end of 2022 than before the corona crisis, but they are more optimistic in the forecast for the third quarter.
The NAV expects a registered unemployment rate of 3.3% and 2.6% of the labor force in 2021 and 2022, respectively. 2.6% corresponds to the average for unemployment in the 15 years before the corona crisis, but in 2019 the unemployment rate was 2.3%.
“There will still be higher unemployment at the end of 2022 than there was before the corona crisis, but (it will be) closer to normal levels, historically,” Holte said.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance