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Norway – Tough labour market conditions ahead

26 November 2013

Temporary agencies are considered a sensitive indicator of developments in the Norwegian economy, reports Dagens Næringsliv. They are often the first to experience downturns in the economy. During the third quarter of the year the staffing industry sold -6% fewer hours than a year ago.

Anders Øwre-Johnsen, CEO of Adecco Norway, commented to Dagens Næringsliv: “The labour market in Norway has been significantly tougher than we expected at the start of the year.”

Mr Øwre-Johnsen believes that there is good reason to fear that Norway will continue to face a tough job market in the future. “We are not seeing any evidence that would indicate that conditions will get better.”

Norwegian companies’ expectations for improvement in the domestic market is at its weakest since the financial crisis, according to the NHO economic barometer. Although most companies have reported that the current market condition is better than in the previous quarter, they have become significantly more negative about the outlook for the next year.

For the first time since the fourth quarter of 2009, when the financial crisis began to seriously impact the Norwegian economy, the proportion of NHO firms with a negative outlook outnumber the firms with a positive outlook.

Mr Øwre-Johnsen added: “What is strange is that the better Europe does, the worse Norway seems to do. Until now it had been the opposite. It would appear that Europe have come through the toughest times.” 

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