Norway features a workforce that is highly educated with high English proficiency, as well as a very favorable ranking regarding ease of doing business. Approximately one-quarter of the Norwegian economy is directly related to the oil and gas sector. This has become a cause for concern due to prolonged low oil prices. The fear is that this pattern could result in employment consequences for oil and gas workers, creating an influx of highly skilled workers back into the labor pool.
Despite this fact, unemployment within Norway has fallen to a record low according to the Norwegian Labour and Welfare Administration (NAV), which is consistent with the trend of about 100 people entering the labor market per month during the first half of 2017.
With half of the Norwegian workforce aged 41 or younger and a heavy concentration of top skills centered in and around Oslo, there is now an effort to shift local workforce dynamics and spread this talent across the nation. For the first time, the government is relocating a large portion of its public- sector jobs to other hiring markets to encourage a more even distribution of its most talented individuals. This initiative serves multiple purposes, creating jobs in smaller job markets, encouraging recent graduates to seek work in their hometowns or other areas outside of Oslo, and shifting talent pools to better support employers hiring in Norway’s less mature markets.