The Norwegian economy is considered to be one of the most stabile in Europe. The country faced the crisis without any big problems and within 2010 the economy was back to the level before the crisis. While other countries are struggling with high unemployment, financial uncertainties, immigrants without qualifications and a degreasing labor force; Norway is in many areas facing the opposite.
The labor market in Norway is in a unique position. The labor force is 2 629 000 millions (people between the ageing group 15-74) and the employment rate is 71,4%, which is a decrease from the previous years. In 2008 the percentage was 73,9%. The average unemployment rate in the last 20 years has been around 4,5%. However the rate was in 2011 3,3% which is quite low in international and national context. In the beginning of 2012 the unemployment rate is still much lower (around 3,5%) compared to other countries like Germany (orange), France (light blue), Sweden (yellow), Denmark (blue), and USA (green).
unemployment rate is predicted to be around the same as in 2011, and in 2013 the rate will fall to 3,2%.
The demand after employees in sectors like oil, gas and construction will increase in the next years, which will lead to a growth in the employment rate. Another important aspect with the Norwegian labor market is the growth in the immigrants coming to Norway with the purpose to work. Although Norway is not a member of the European Union, there are coming thousands every year looking for a job. Norway has close relations with the union through a membership in the European Economic Area and therefore it is committed to put in force many of the EU legislation to get access to the single market. Citizens of the European Union have the same possibility and the same rights for working in Norway as in any other member of the union. Therefore studies shows that in 2012 the employment rate will increase with 1,5% from the level of 2011, and in 2013 the rate will increase even more.