Norway unemployment rate at nine-month low

The seasonally adjusted unemployment rate in Norway has decreased to 3.7% in November from 4% in October, data by Statistics Norway showed.

It has been the lowest jobless rate since February.

The number of unemployed individuals dropped by 11,000 from a month ago to 111,000 in November.

At the same time, the number of employed individuals went up by 6,000 to 2.915 million in November.

And, the youth unemployment rate in the country, which tracks job-seekers aged between 15 and 24, decreased to 9.8% in November from 13% in the preceding month.

Finally, the labor force participation rate edged lower to 72.8% in November from 73% in October, the data showed.

The Norwegian Krone was last 0.16% firmer on the day against the Euro, with the EUR/NOK currency pair trading at 11.7653.