Friday, July 1, 2016

Unemployment leveled off – was lower than expected in June –

( At the end of June, 81,000 people were registered as unemployed with NAV. There are 3,700 more than a year ago, it emerges today’s report.

– The trend in unemployment in recent months has been more positive than we expected. That number unemployed decreases mainly because several began in labor, but we also see that the number of new job seekers has declined slightly in recent months, said Labor and Welfare Director Sigrun Vågeng in the report.

Lower unemployment than waiting

– the unadjusted unemployment rate, which is calculated from the registered unemployment rate was 2.9 percent in June and unchanged from May, said macro economist Marius Gonsholt Hov at Handelsbanken Capital Markets.

He says that Handelsbanken and sliced of expectations in the market was 3.0 per cent.

Gonsholt-Hov also shows that unemployment, adjusted for seasonal variations, was 3.0 percent, down from 3.1 percent in May, which is on the positive side of Norges Bank’s expectations .

Despite the increase in people on measures mean Gonsholt-Hov that this suggests that the labor market is beginning to stabilize.

– It remains to be seen we have reached a peak in unemployment already and what the reasons are. For the labor market will improve in a meaningful way, employment begin to pick up; that people will disappear from the labor market is not a good news, he said.

He added that at the present time does not have clear evidence that employment actually trends upward. He also points out that Norges Bank still waiting flat to slightly negative growth in employment in the future.

The key figures

Adjusted for seasonal variations, was the largest percentage decline in the last month in Oslo and Nord-Trøndelag. Rogaland and Østfold had the largest increase in unemployment in June.

Unemployment is when 2.9 percent of the workforce, compared with 2.8 percent in June last year. The sum of the unemployed and job seekers in action was at 96,800 people, equivalent to 3.5 percent of the workforce. There are 8700 more than a year ago, when gross unemployment was at 3.2 percent.

The female unemployment rate is at 2.5 percent and has only increased by 1 percent, or 237, it last year. Men’s unemployment rate was 3.3 percent and it has increased by 8 percent, or 3418, the last year.

Jobseekers on measures have increased respectively by 45 and 47 percent, corresponding to 2269 and 2764.

Winners and losers

Top unemployment now lives in Rogaland, with 4.3 percent of the workforce. Then follow Aust and Vest-Agder respectively 3.7 and 3.6 percent.

Unemployment is lowest in Sogn og Fjordane and Oppland, respectively 1.6 and 1.8 percent of the workforce.

During the past year, unemployment has fallen in 13 of 19 counties . It was the largest decline in unemployment in Nord-Trøndelag and Sogn og Fjordane, respectively 16 and 13 percent.

In Rogaland, the number of unemployed at the same time increased by 40 percent, while unemployment have increased respectively by 26 and 25 percent in More og Romsdal and Hordaland.

Occupations with the lowest unemployment

the increase was greatest in engineering and ICT subjects than in June last year, with 35 percent. Leaders follow on 2nd place with an increase of 18 percent. Unemployment among brokers and consultants has increased by 17 percent and 14 percent more industrial workers have become unemployed.

Unemployment fell most for teaching professions and child and youth work, with respectively 6 and 4 percent.

by the end of June, unemployment was lowest in teaching professions and academic professions, respectively 0.8 and 1.1 percent of the workforce.

Unemployment is highest in the construction professions and industrial services, both with 4.6 percent. Within the engineering and ICT subjects unemployment now at 2.9 percent, against 2.1 percent in June last year, it appears from the NAV report for June.

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