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Higher estimate for Norway job cuts, 36,000 positions lost

Staff writer ▼ | August 19, 2015
More than 36,000 oil industry-related jobs have been axed in Norway as a result of an industry downturn, according to the latest official statistics.
Norway job cuts
Oil in Norway   Labour & Welfare Administration of Norway
That is significantly higher than an alternative figure typically used to measure the impact on employment.

The precise estimate of 36,357 issued by Norway’s Labour & Welfare Administration (NAV) includes redundancies and lay-offs notified by oil companies, contractors and suppliers nationwide, as well as job cuts in other related sectors such as the hotel business and transport due to the slump, according to local publication Stavanger Aftenblad.

This compares with the latest estimate for August of 22,439 redundancies issued by DNB Markets.

Among the worst-hit regions is Rogaland district in western Norway that is the cradle of the country’s 40-year-old petroleum industry, including oil capital Stavanger, where NAV has registered 12,732 job losses over the past year.