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Norwegian Labour market development May 2008

Norwegian Labour market development May 2008. GDP growth: 6% in 2007. Total oil investment reaches 130 billion NOK in 2008. Decreasing activity in the building sector?. New buildings in progress, Areal (1000m2). Trend Jan 2001 - Feb 2008.

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Norwegian Labour market development May 2008

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  1. Norwegian Labour market development May 2008

  2. GDP growth: 6% in 2007

  3. Total oil investment reaches 130 billion NOK in 2008

  4. Decreasing activity in the building sector? New buildings in progress, Areal (1000m2). Trend Jan 2001 - Feb 2008

  5. Labour Force and employment. 1997 –February 2008. Seasonally adjusted from the Labour Force Survey.

  6. Labour force participation 2000 – 2007.16(15) – 74 years.

  7. Employed persons aged 60 – 74 in per cent of the total population aged 60 – 74. 2000 – 2006.

  8. Unemployment development

  9. Labour market tightnessInflow of public announced vacancies per workday and inflow of jobseekers per workday. Jan 2001 – April 2008. Trend

  10. Largest net immigration ever in 2007

  11. Decreasing unemployment in all regionsPercentage change in registered unemployment by region, April 2004 – April 2008.

  12. Largest unemployment rate for young menRegistered unemployed in percentage of the labour force. Age and sex, April 2008.

  13. Unemployment by level of education, August 2007

  14. Man labour years lost in the ordinary production due to poor health.Actual figures 1992 – 2007, forecast 2008 - 2030

  15. Expected age of retirement at the age of 50, 1986 – 2006.

  16. Persons taking early retirement (AFP) in per cent of all entitled to early retirement

  17. Outlook for 2008 and 2009 • Uncertainty connected to the development of the world economy • Strong NOK, high interest rate, and lower demand from abroad will lead to lower activity in parts of the manufacturing sector and in the building sector. • High oil prices – high level of investments in the oil sector. • Further growth in the public sector • The economy will peak in 2008

  18. Our forecast

  19. Statistics 2007 • 50 163 persons in contact with NAV EURES: • 38 671 jobseekers • 11 258 employers • 1 200 direct placements • More than 5 000 other placements through CV-base and jobfairs • 7 000 employers used NAV EURES for recruiting in 2007 • -- and around 40% of these are private recruitment agencies

  20. NAV EURES is growing each year

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