Infra-Annual Labor Statistics: Monthly Unemployment Rate Total: 15 Years or over for Norway
LRHUTTTTNOM156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.40
Year-over-Year Change
35.00%
Date Range
1/1/1989 - 6/1/2025
Summary
The Monthly Unemployment Rate Total: 15 Years or over for Norway measures the percentage of the Norwegian labor force aged 15 and above who are unemployed. This key economic indicator is closely watched by policymakers and analysts to assess the health of the Norwegian labor market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Monthly Unemployment Rate Total tracks the share of the Norwegian working-age population that is jobless but actively seeking employment. It is a critical measure of labor market conditions and economic performance in Norway.
Methodology
This data is collected through household surveys conducted by Statistics Norway.
Historical Context
The unemployment rate is a widely used metric for evaluating the strength of the Norwegian economy and guiding fiscal and monetary policy decisions.
Key Facts
- Norway's unemployment rate averaged 3.8% from 2015-2020.
- The highest unemployment rate in Norway was 5.4% in May 2021.
- Norway has one of the lowest unemployment rates among OECD countries.
FAQs
Q: What does this economic trend measure?
A: The Monthly Unemployment Rate Total: 15 Years or over for Norway measures the percentage of the Norwegian labor force aged 15 and above who are unemployed and actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The Norwegian unemployment rate is a key indicator of the health of the labor market and broader economic conditions in the country. It is closely monitored by policymakers, investors, and economists to assess the performance of the Norwegian economy.
Q: How is this data collected or calculated?
A: This data is collected through household surveys conducted by Statistics Norway, the national statistical institute of Norway.
Q: How is this trend used in economic policy?
A: The Norwegian unemployment rate is a crucial input for guiding fiscal and monetary policy decisions by the Norwegian government and central bank. It helps inform policy actions aimed at promoting full employment and economic stability.
Q: Are there update delays or limitations?
A: The Norwegian unemployment rate data is published monthly with a relatively short delay, making it a timely indicator of labor market conditions. However, survey-based data may be subject to sampling and measurement errors.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Monthly Unemployment Rate Total: 15 Years or over for Norway (LRHUTTTTNOM156S), retrieved from FRED.