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Norway
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Norway
Norway, with a GDP of $485.5 billion, ranks 31st globally. Key industries include petroleum and gas, shipping, and fishing. With a stable working population, Norway's labor market remains robust despite an aging population. A low 3.6% unemployment rate supports employment stability. Norway hosts a modest number of recruitment agencies, focusing on specialized sectors.
Norway'S
AGENCY LANDSCAPE
1K
Agencies operating in Norway
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
16-22%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Norway'S
FEATURED AGENCIES
Adecco Group
Nordic Jobs Worldwide
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Norway'S
GROSS DOMESTIC PRODUCT (GDP) RATING
31
WORLD RANKED
Norway ranks 31st in the world by current economic output
$486B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
18
EMEA RANKED
Norway is the 18th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Norway's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Norway'S
CURRENCY AND CODE
Nkr
Country currency
NOR
Country ISO code
Norway'S
INFLATION RATE
3.3%
CURRENT RATE
▼2.2% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Norway'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Norway'S
LABOUR STATISTICS
5.4M
POPULATION
With a population of 5,425,270, Norway is a small sized country by global standards. Norway's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Norway is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Norway's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Norway'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Norway'S
UNEMPLOYMENT RATE
3.6%
CURRENT PERCENTAGE
▲0.35% INCREASE
Norway's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a small increase in unemployment, suggesting continued economic stability, with a slight dip in job availability
Norway'S
TOP PERFORMING INDUSTRIES
Top industries
Petroleum and gas
Shipping
Fishing
Norway'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
69
/
62
Male | Female
In Norway there is a low gap in participation rates between males and females, indicating a relatively balanced workforce particpation often reflective of strong gender equality policies or cultural norms supportive of equal gender parity.
Norway'S
WORKING LIFE
$68K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$5.7K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Norway'S
WORKING LIFE
12DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
37.5HRS
Average working full time week
Employers must pay for overtime at 140% of the hourly rate on weekdays and 200% on night shifts/weekends. Max 10 hours weekly and 25 every 4 weeks are allowed; standard work is 7.5 hours daily, 37.5 weekly, Monday-Friday.
Norway'S
TOP BENEFITS
49WEEKS
Maternity leave
Norway offers 49/59 weeks of maternity/paternity leave at 100%/80% pay, with maternal/paternal quotas of 15/19 weeks. Additional unpaid year possible. NAV administers pay.
1YEAR
Sick leave
Employees can take unlimited sick leave days, receiving benefits for up to one year. Payment rates and payers vary based on the duration of the leave.
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