unemployment in norway

Name

Course

University

Date

Unemployment in Norway

According to the statistics from the Norwegian Labour and Welfare Organization unemployment rate in Norway has gone down from 4 .6 percent in the year 2006 to 2 .5 percent in 2008 .The rate of unemployment was falling after along period of stagnation where the unemployed had risen for a period of one decade . The general performance of the economy contributed to this negative trend . This period was preceded with a growth period where the country was enjoying a tremendous growth due

to the increased oil prices and a weak Norwegian currency which had made the country exports attractive to the world markets . The increased demand for the Norwegian exports led to the growth of industries leading to the creation of more employment opportunities . On a month to month basis the unemployment rate was reported to have risen to 1 .8 percent in the month of November 2008 up from 1 .7 percent in the previous year This downturn was blamed on the current global economic crisis and the general economic performance in Norway . It is estimated that close to one hundred thousand people will loose their jobs by the end of this year . Unemployment is bound to increase over the next few months as the negative effects continue to be felt in Norway and the world at large One of the factors that have contributed to the poor performance of this country 's economy is the fall in oil prices and the...