Financial News: Norway's Jobless Rate Rises In Q1

Norway's Jobless Rate Rises In Q1

05/09/2023 - 05:02:00 (RTTNews)

(RTTNews) - Norway's unemployment rate increased in the first quarter, the labor force survey data from Statistics Norway showed on Tuesday.

The jobless rate rose to 3.7 percent in the March quarter from 3.1 percent in the December quarter.

The rate was the highest since the third quarter of 2021, when it was 4.2 percent.

In the same quarter last year, the jobless rate was 3.3 percent.

The number of unemployed rose to 110,000 in the first quarter from 92,000 in the previous quarter.

The employment rate decreased to 69.4 percent in the March quarter from 69.9 percent in the prior quarter. The number of employed people was 2.835 million.

The unemployment rate edged up to 3.6 percent in March from 3.5 percent in the previous month. On a seasonally adjusted basis, the jobless rate dropped to 3.7 percent from 3.9 percent.

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