Updated: Foreigners to power working Norway / News / The Foreigner

The Foreigner Updated: Foreigners to power working Norway. Recent and future Schengen expansion is good news for Norway. The Central Bank predicts record high numbers of immigrants will fill empty Norwegian jobs in the next four years. According to the bank’s latest Monetary Policy Report, the number of working foreigners doubled to 326,000 between 2003 and 2009. Immigrants with jobs accounted for over half of the amount of increased employment before the financial crisis. The good times are here again, and expected to continue, with an anticipated 45,000 more people per year until 2014.

schengen, workingimmigration, norwegiancentralbank



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Updated: Foreigners to power working Norway

Published on Monday, 4th April, 2011 at 12:14 under the news category, by Michael Sandelson   .
Last Updated on 4th April 2011 at 21:11.

Recent and future Schengen expansion is good news for Norway. The Central Bank predicts record high numbers of immigrants will fill empty Norwegian jobs in the next four years.



According to the bank’s latest Monetary Policy Report, the number of working foreigners doubled to 326,000 between 2003 and 2009. Immigrants with jobs accounted for over half of the amount of increased employment before the financial crisis.

The good times are here again, and expected to continue, with an anticipated 45,000 more people per year until 2014.

Despite Norwegian skepticism to Schengen Area enlargement, it seems immigrants from Eastern Europe are the winners. Poles account for the highest number of migrants, followed by Lithuanians.

“The inflow of eastern Europeans has increased after EU enlargement in 2004 and 2007 facilitated their entry into Norway. Low unemployment and a relatively high wage level have made the Norwegian labour market attractive to job seekers of foreign origin,” the report reads.

The bank predicts mainly positive financial effects, at the same time expressing minor concerns about the effects of increased foreign influx, stating, “With high labour immigration, the economy can grow faster without fuelling price and wage pressures. High immigration can fuel housing market pressures and a need for increased infrastructure investment.”

Nevertheless, the report ends on a ‘bright’ note.

"On average they have a higher propensity to work than the rest of the population as they are primarily between the age of 20 and 40. This age group also features relatively low demand for health and care services. In the first years after their immigration, they are likely to contribute most to increasing production capacity.”



Published on Monday, 4th April, 2011 at 12:14 under the news category, by Michael Sandelson   .
Last updated on 4th April 2011 at 21:11.

This post has the following tags: schengen, workingimmigration, norwegiancentralbank.





  
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