New prognosis forecasts slow down in unemployment rate / News / The Foreigner

New prognosis forecasts slow down in unemployment rate. Fresh figures released by NAV (the Norwegian Labour and Welfare Administration) predict a weaker rise in the number of jobless people for 2010. The adjusted prognosis shows that 90,000 could be unemployed next year, 30,000 less than previously expected. “It looks like the steep rise in unemployment we predicted when we had our last prognosis is now over, therefore we expect the rise to be more moderate for both the rest of this year and the next,” says the director of work and welfare Tor Saglie. NAV predicts that the unemployment level to be approximately 3.1 percent next year. This is expected to give an average of 80,000 people out of work, an increase of 9,000 on this year’s figures.

nav, employment, unemployment, prognosis, report, slow-down, jobs, employees, pick-up, builders, construction, workers



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New prognosis forecasts slow down in unemployment rate

Published on Tuesday, 22nd September, 2009 at 13:58 under the news category, by Michael Sandelson   .
Last Updated on 23rd September 2009 at 12:10.

Fresh figures released by NAV (the Norwegian Labour and Welfare Administration) predict a weaker rise in the number of jobless people for 2010. The adjusted prognosis shows that 90,000 could be unemployed next year, 30,000 less than previously expected.

Men at work sign
Men at work sign
Photo: Jeremy Burgin/Flickr


Government finance package

“It looks like the steep rise in unemployment we predicted when we had our last prognosis is now over, therefore we expect the rise to be more moderate for both the rest of this year and the next,” says the director of work and welfare Tor Saglie.

NAV predicts that the unemployment level to be approximately 3.1 percent next year. This is expected to give an average of 80,000 people out of work, an increase of 9,000 on this year’s figures.

“The effective financial rescue packages that have been deployed both nationally and internationally seem to have contributed to an apparent rise in activity. But economic growth is still expected to be weak for the period of this latest prognosis, something that will result in a slight but continual rise in unemployment”.

Young employees hit worst

However, according to a report from the same authority, 30 percent of those who lost their jobs at the start of the financial crisis a year ago are still looking for work.

Half of them are employees under 30, and finding a job is most difficult for builders and those working in other parts of the construction industry.

“There has been a severe slow-down in this sector, and it hasn’t picked up yet,” says Erik Oftedal at NAV.



Published on Tuesday, 22nd September, 2009 at 13:58 under the news category, by Michael Sandelson   .
Last updated on 23rd September 2009 at 12:10.

This post has the following tags: nav, employment, unemployment, prognosis, report, slow-down, jobs, employees, pick-up, builders, construction, workers.





  
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