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Members of the Confederation of Norwegian Enterprises [NHO], Norway’s largest trade association, are reporting a more pessimistic employment outlook than a year ago. A survey of nearly 2,700 companies revealed the weakest market conditions since 2010. Export companies, not working in oil and gas, are considerably more pessimistic than in previous quarters.
“The weak global economy is now fully impacting the Norwegian economy, leading to a marked slowdown in economic growth,” Dag Aarnes, deputy director at the Oslo-based group, said in a statement. “More cautious households and fewer orders to Norwegian producers from the oil sector are also dampening growth.”
These economic difficulties are now hitting the labour market. The NHO Industry Business Barometer report reports that demand for labour among NHO members is significantly lower than before. Companies now plan to increase their workforce in 2013 by +0.8%, which is a downward revision of -0.8% since the first quarter of the year. A downward revision is also expected for recruitment in 2014.