Tag Archives: simonsen

A good place to be in an economic crisis

For the most part, you wouldn’t know an economic crisis is going on across the world.  Sure, Statoil’s profits are way down, but unemployment and wage growth still look great compared to the rest of the world:

OSLO, Feb 16 (Reuters) – Norwegian wage growth is seen moderating in 2009 after years of brisk increases as the labour market weakens, economists said on Monday following a state commission’s estimate of the impact on 2009 wages from pay hikes last year.

Unemployment is rising in Norway because of the global economic downturn, but remains low by international standards. Registered joblessness rose to 2.6 percent of the workforce in January from 2.0 percent in December.

While I have heard people mention the economic crisis, it certainly hasn’t impacted the lives of most Norwegians.  Although, perhaps there is a bit more to come if law firms are giving talks like this one.