For Norway, Oil at $50 Is Worse Than the Global Financial Crisis

When the financial crisis brought the global economy to its knees, Norway was largely unscathed. But oil under $50? That’s another story.

Unemployment peaked at about 3.7 percent in 2010 in the post-crisis aftermath. Falling oil prices already pushed the jobless rate to 4.3 percent in May, the highest in at least 11 years, and that was before a renewed drop in Brent crude.

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