Infra-Annual Labor Statistics: Unemployment Total: From 15 to 24 Years for Norway
LFUN24TTNOA647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52,375.00
Year-over-Year Change
66.01%
Date Range
1/1/2000 - 1/1/2024
Summary
This economic trend measures the total unemployment rate for individuals aged 15 to 24 in Norway. Understanding youth unemployment is crucial for policymakers assessing labor market health and designing effective economic interventions.
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 Infra-Annual Labor Statistics: Unemployment Total: From 15 to 24 Years for Norway trend provides a granular view of unemployment levels among the young adult population in Norway. This data point is widely used by economists, government agencies, and international organizations to analyze labor force dynamics and inform policy decisions.
Methodology
The data is collected through national labor force surveys conducted by Statistics Norway.
Historical Context
Policymakers use this trend to gauge the strength of the Norwegian labor market and develop strategies to promote youth employment.
Key Facts
- Norway's youth unemployment rate is lower than the OECD average.
- Unemployment among 15-24 year-olds in Norway has remained below 10% since 2017.
- Youth unemployment is a key economic indicator for policymakers in Norway.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total unemployment rate for individuals aged 15 to 24 in Norway. It provides insights into the labor market experiences of young adults in the country.
Q: Why is this trend relevant for users or analysts?
A: Youth unemployment is a crucial economic indicator, as high levels can signal broader labor market challenges and hinder long-term economic growth. This trend helps policymakers and analysts assess the health of the Norwegian labor market and develop targeted interventions.
Q: How is this data collected or calculated?
A: The data is collected through national labor force surveys conducted by Statistics Norway, the country's central statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers in Norway use this trend to monitor the strength of the labor market, particularly among young adults, and inform the development of policies and programs aimed at promoting employment and economic opportunity.
Q: Are there update delays or limitations?
A: The data is updated on a regular, intra-annual basis by Statistics Norway, with a typical lag of several months between the reference period and the data release.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Unemployment Total: From 15 to 24 Years for Norway (LFUN24TTNOA647S), retrieved from FRED.