Jobs
Norway Adjusted Unemployment Hits Highest Level in 19 Months
- July registered jobless rate of 2.1% tops central bank’s view
- Data may raise chances of key rate cut before next year
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Norway’s adjusted unemployment rate rose to the highest level since 2022 last month, exceeding the central bank’s estimate and raising the odds of an interest-rate cut before next year.
The seasonally-adjusted registered jobless rate for July increased to 2.1%, the highest level since January 2022, data from the Norwegian Labor and Welfare Administration showed on Friday. Norges Bank had projected that unemployment would remain at 2% until September.