Norway’s unemployment rate rises to 3-month high

The seasonally adjusted unemployment rate in Norway was reported to have risen to 4.3% in April from 4% in March.

It has been the highest jobless rate since January.

The number of unemployed individuals rose by 12,000 from the prior month to 131,000, data by Statistics Norway showed.

At the same time, the number of employed individuals rose by 9,000 from the prior month to 2.885 million in April.

And, the youth unemployment rate in the country, which tracks job-seekers aged between 15 and 24, surged to 14.1% in April from 11.1% in the preceding month.

Finally, the labor force participation rate edged higher to 72.9% in April from 72.5% in March, the data showed.

The Norwegian Krone was last 0.58% stronger on the day against the Euro, with the EUR/NOK currency pair trading at 11.3894.

The exotic Forex pair was holding near lows last seen in early March 2024.