• LFS unemployment 3.6% in December slightly above forecast
• Not an important indicator for Norges Bank- but if anything in line with its view
Unemployment increased in December and the number of unemployed persons was back at March level, year high in 2013. Still we would not give that too much weight. The indicator is volatile and the trend is sideways. Norges Bank does not give short term movements in LFS unemployment much weight. Still, if this is an indication that LFS unemployment is starting to increase slowly it will be well in line with Norges Bank’s view. Norges Bank forecasts an average rate this year at 3 ¾% and 4% next year.
Details: LFS unemployment increased from 3.5%n in October to 3.6% in December. Conesus and Nordea was 3.5%. Both employment and labour supply increased
Nordea