![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Daniel J. Graeber Oslo, Norway (UPI) Nov 13, 2015
Though trade levels increased during the third quarter, the number of jobs opened in the Norwegian oil and gas sector continues to decline, national data show. Economic growth has been slow for most of the year for Norway, with gross domestic product increasing by slightly less than 1 percent for the past four quarters combined. Statistics Norway said the trade surplus for September was $1.9 billion, the second lowest level since March 2003. In a snapshot of labor figures, the data-mining body oil and gas said employment prospects were dwindling. "The number of job vacancies in the production of oil and gas decreased by half from the third quarter of 2014 to the third quarter of 2015," the agency said. By comparison, manufacturing employment was down 39 percent from last year, though overall trade was up 25 percent year-on-year. Across the board, there were 51,800 job openings in the Norwegian economy during the third quarter, a 5.3 percent decline from last year. Statistics Norway said there's been a decrease in the number of jobs available in the oil and gas sector in every quarter since fourth quarter 2012. The government's statistics office attributed some of the decline in employment to an aging workforce, suggesting the sector is not attracting younger workers. In 2013, more than 70 percent of the oil and gas workforce was below 50 years of age, a figure that dropped nearly 2 percent the following year. Low crude oil prices are damaging economies like Norway's that depend heavily on oil and natural gas for revenue. Norge Bank, the country's central bank, said in September that a weakened value of its currency, the krone, could make exports more attractive, though the overall economy is expected to falter and unemployment is projected to rise.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |