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Financial News: Norway Jobless Rate Unexpectedly Rises In August

Norway Jobless Rate Unexpectedly Rises In August

10/22/2020 - 03:19:00 (RTTNews)

(RTTNews) - Norway's unemployment rate rose in August after remaining unchanged in the previous month, defying expectations for an easing, figures from Statistics Norway showed on Thursday.

The seasonally adjusted jobless rate climbed to 5.3 percent from 5.2 percent in July. Economists had expected the rate to fall to 5.1 percent.

The jobless rate for August is the average of three months from July to September. The rate for July is the average of for the June to August period.

The unemployment rate in May, which is the average for the April to June period, was 4.6 percent.

The number of unemployed rose to 150,000 in August from 147,000 in July and 130,000 in May.

The number of employed was 2.69 million persons, roughly unchanged from both July and May.

Separately, the statistical office announced that the jobless rate was 5.4 percent in the third quarter compared to 4.6 percent in the second quarter.

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