Infra-Annual Labor Statistics: Unemployment Rate Total: 15 Years or over for Norway
LRUNTTTTNOA156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.98
Year-over-Year Change
27.46%
Date Range
1/1/2000 - 1/1/2024
Summary
This trend measures the unemployment rate for individuals aged 15 and over in Norway. It provides important insights into the health of Norway's labor market and informs economic policymaking.
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 Rate Total: 15 Years or over for Norway tracks the percentage of the Norwegian population aged 15 and above who are unemployed. This metric is a key indicator of economic activity and labor market conditions.
Methodology
This data is collected through surveys of Norwegian households.
Historical Context
Policymakers and analysts use this trend to assess the strength of Norway's economy and labor force.
Key Facts
- Norway's unemployment rate averaged 4.4% from 2010-2020.
- The unemployment rate peaked at 5.3% in 2016 but has since declined.
- Norway has one of the lowest unemployment rates in Europe.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the Norwegian population aged 15 and over who are unemployed and actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: This unemployment rate is a key indicator of the health of Norway's labor market and economy. It informs policymaking and analysis of economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted in Norway.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this unemployment rate to assess the strength of the Norwegian labor market and inform economic policies.
Q: Are there update delays or limitations?
A: The data is reported on an infra-annual basis, so there may be some delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Infra-Annual Labor Statistics: Unemployment Rate Total: 15 Years or over for Norway (LRUNTTTTNOA156N), retrieved from FRED.