Norway immigrants face higher unemployment / News / The Foreigner

The Foreigner Norway immigrants face higher unemployment. A growing unemployment rate among immigrants in Norway comes at a time of falling oil prices and European economic decline. The stock markets in Europe are reported to have fallen sharply last week. The London stock market has declined 10 per cent since September, Klassekampen reported, Tuesday. An October report by The International Monetary Fund (IMF) shows that the global economic recovery after the financial crisis is still uneven.

employment, immigration, norway, jobs, oil



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Norway immigrants face higher unemployment

Published on Tuesday, 21st October, 2014 at 16:02 under the news category, by Susanne Tunge Østhus.

A growing unemployment rate among immigrants in Norway comes at a time of falling oil prices and European economic decline.



The stock markets in Europe are reported to have fallen sharply last week. The London stock market has declined 10 per cent since September, Klassekampen reported, Tuesday.

An October report by The International Monetary Fund (IMF) shows that the global economic recovery after the financial crisis is still uneven.

“Growth is still weak in the euro area, with lingering risks of more protracted low growth and low inflation,” the IMF’s World Economic Outlook states.

The report further explains that lower growth in trading partners, tightening of global financial conditions, economic disruptions, and abruptly higher oil prices are the major risks facing the European economy.

“This is just one episode in a protracted economic depression. It has been an ongoing crisis, which has been especially noticeable in the euro area. It is starting to get dangerous for Germany and Norway now, and we’re talking about a crisis,” Associate Professor of Economics at NTNU (Norwegian University of Science and Technology), Rune Skarstein told Klassekampen.

Another problem for the European economy is the dramatic increase in oil prices. These have occurred due to tensions in Russia and Ukraine.

But lately, the oil price has fallen from 115 dollars per barrel this summer to about 92 dollars now, according to Aftenposten.

Norwegian oil companies have already made people redundant and commenced tightening measures as the demand for oil has decreased.

“The demand for maintenance, repairs and expansions on the Norwegian Continental Shelf will decrease, which is why the supply industry is making employees redundant. There will almost certainly be a sharp increase in unemployment in the future,” Trondheim-based academic Rune Skarstein told Klassekampen.

In turn, an increase in redundancies could be problematic for immigrants. Statistics Norway (SSB) figures for Q2 2104 show that four of ten who are unemployed in Norway are immigrants. The total of unemployed persons in Norway at this time was 72,493.

Immigrants from EU countries in Eastern Europe have the highest rate of unemployment – this figure was 9,123 in Q2 2014.

Immigrant unemployment rate by region:

  • Nordic region: 2.7 %
  • Western Europe: 3.3 %
  • EU countries in Eastern Europe: 7.7 %
  • The rest of Eastern Europe: 6.9 %
  • North America and Oceania: 3.1 %
  • Asia: 8.3 %
  • Africa: 13.5 %
  • South and Central America: 6.9%

Immigrant unemployment and total numbers of unemployed persons (72,493) by county in Norway

  • Østfold: 10.9 %
  • Akershus: 5.9%
  • Oslo: 7.6 %
  • Hedmark: 7.7 %
  • Oppland: 7.7 %
  • Buskerud: 7.3 %
  • Vestfold: 7.7 %
  • Telemark: 9.9 %
  • Aust-Agder: 9.1 %
  • Vest-Agder: 8.1 %
  • Rogaland: 5.2 %
  • Hordaland: 5.9 %
  • Sogn og Fjordane: 6.5 %
  • Møre og Romsdal: 6.0 %
  • Sør-Trøndelag: 6.3 %
  • Nord-Trøndelag: 9.6 %
  • Nordland: 7.8 %
  • Troms: 4.7 %
  • Finnmark: 7.1 %


Published on Tuesday, 21st October, 2014 at 16:02 under the news category, by Susanne Tunge Østhus.

This post has the following tags: employment, immigration, norway, jobs, oil.





  
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