Norway’s jobless rate increased as expected in May, after remaining stable in the previous month, figures from Statistics Norway showed Wednesday.
The seasonally adjusted unemployment rate rose marginally to to 4.3 percent in May from 4.2 percent in April, the same rate as in the prior month. The figure was also matched with consensus estimate.
In the corresponding month last year, the jobless rate was 3.2 percent.
The number of unemployed people increased to 118,000 in May from 117,000 in the preceding month. A year ago, the jobless figure totaled only 86,000.
The unemployment rate increased 0.1 percent or by 5,000 persons from February to May. The increase is with in the error margin of the LFS, but still in line with an increasing trend since May 2014.
The rate for May indicates the average of April to June period and the February figure reflects January to March period.
At the same time, the employment rate came in at 68.2 percent in May, up slightly from 68.1 percent in April.
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