FX.co ★ Norway Jobless Rate Hits 17-Month Low

Norway’s seasonally adjusted unemployment rate fell to 4.2% in July, down from a revised 4.6% in June, marking its lowest level since February 2025. The number of unemployed persons declined to 130 thousand from 140 thousand, with male unemployment dropping by 4.5% to 73 thousand and female unemployment decreasing by 3.9% to 57 thousand.

Youth unemployment, covering those aged 15 to 24, eased to 12.1% from 14.0%. At the same time, the employment rate increased to 70.2% from 69.7% a month earlier, as the number of employed persons rose to 2.944 million from 2.918 million.

The labour force participation rate edged up to 73.3% from 73.0%, with the labour force expanding by 16 thousand to 3.074 million. Total man-weeks worked, adjusted to a 37.5-hour workweek, increased to 2.196 million from 2.175 million in the previous period.

Compared with July of the previous year, the unemployment rate was 0.2 percentage points higher, at 4.4%.