Employment in Business Services in Norway stood at 882.2 thousand units (FTE) in 2023. Analyzing historical trends, we see a relatively steady year-on-year growth with minor fluctuations. Between 2013 and 2023, the compound annual growth rate (CAGR) averaged around 0.68%. The employment figures increased significantly in 2018 with a notable year-on-year increase of 2.14%, whereas other annual changes generally hovered around 0.3% to 0.8%. Specifically, the values for 2022 and 2023 saw year-on-year variations of 0.74% and 0.72%, respectively.
Forecasted data from 2024 to 2028 suggest a continuation of this growth trend, with a five-year CAGR estimated at 0.52%. By 2028, employment in Business Services is expected to reach 911.8 thousand units, representing a total projected growth rate of 2.63% over the five-year period.
Future trends to watch for:
- Technological advancements impacting employment types and distribution within the sector.
- Potential regulatory changes in labor laws that could affect employment figures.
- The impact of global economic factors and market dynamics on demand for business services in Norway.
