Norway Unemployment Rate

Norway’s seasonally adjusted unemployment rate rose to 4.2% in December 2024, the highest level since April, up from 3.7% in the previous month. The number of unemployed persons increased 13 thousand to an eight-month high of 126 thousand. Meanwhile, the employment rate decreased to 69.1% from 70%, with the number of employed individuals declining by 35 thousand to 2.874 million. The labor force participation rate dropped to 72.1% in December from 72.7% in November. In the meantime, the youth unemployment rate, which measures the number of job-seekers between 15 to 24 years old, rose to 12.7% from 10% in the prior period.