Economics students face job uncertainty as consulting firms cut hiring

Economics students in Norway are experiencing increased stress due to a tightening job market. Major consulting and auditing firms, which have historically been primary employers for new graduates, are significantly reducing their hiring rates.

This shift is attributed in part to uncertainty regarding how artificial intelligence will impact business models and job tasks. Helge Thorbjørnsen, rector of NHH Norwegian School of Economics, has noted a significantly higher stress level among students compared to previous years.

Data from NIFU indicates rising unemployment among recent master's graduates, with economics being one of the most affected fields. Additionally, the union Econa reports that it is taking longer for economics graduates to secure employment. Torgeir Dahle, CEO of the consulting firm Cedra, noted that the industry likely requires fewer employees than in the past.