FX.co ★ Norway Jobless Rate Climbs To 4.5%, Highest In 30 Months

In January, Norway witnessed an increase in its unemployment rate, the highest it has been in two-and-a-half years, according to labor force survey data from Statistics Norway reported on Monday.

The seasonally adjusted unemployment rate was recorded at 4.5 percent in January, a significant increase from December's 3.5 percent.

This unemployment rate has not been seen since July 2021 when it reached 5.0 percent. The number of unemployed individuals also surged to 134,000 in January, up from 105,000 in the month before, suggests the agency's data.

Despite the rise in unemployed rates, the employment rate maintained stability at 69.7 percent.

When observing the trends, the unemployment rate slightly increased from 3.8 percent to 3.9 percent.