Norway’s unemployment rate at five-month low

The seasonally adjusted unemployment rate in Norway has decreased to 3.9% in July from 4.1% in June, data by Statistics Norway showed.

It has been the lowest jobless rate since February.

The number of unemployed individuals dropped by 5,000 from a month ago to 118,000 in July.

At the same time, the number of employed individuals was unchanged at 2.888 million in July.

And, the youth unemployment rate in the country, which tracks job-seekers aged between 15 and 24, decreased to 11.9% in July from 12.1% in the preceding month.

Finally, the labor force participation rate edged lower to 72.5% in July from 72.7% in June, the data showed.

The Norwegian Krone was last 0.54% weaker on the day against the Euro, with the EUR/NOK currency pair trading at 11.7567.