The salary increases of the last eight years have already been deleted.
Today, wage earners thus have the same purchasing power as they had in 2014. And it will take some time before the curve turns upwards - only in 2026 are real wages expected to have recovered, according to the Norwegian Economic Institute.
- We have now entered a recession.
But we are at the beginning of it and we think it will get worse in the future, says Albin Kainelainen in the Economic Agency.
But the fact that the wallet is getting thinner doesn't just have to mean disadvantages.
Among other things, housing prices are predicted to fall, which can be positive for anyone entering the housing market, according to Albin Kainelainen.
- A recession as a whole is very costly for the economy, with increased unemployment hitting weak groups, he says.
Increased public health
At the same time, columnist and author Anna Björklund sees several other examples of positive effects with a recession.
Among other things, she points out that gloomy times in the past led to increased public health and a greater understanding of other people's problems.
- I think there are similar effects now.
It's not the roof over your head that disappears first.
Rather, it is the new, shiny and sexy that disappears first, she says.
See the Economic Agency's latest episode "Finally recession" on SVT play.