|Norway’s Registered Unemployment Declines From Year Earlier|
| [03.02.2012, 07:58pm, Fri. GMT]|
|Norway’s registered jobless rate fell from a year earlier as companies sought more workers and the oil-rich nation escapes the worst of Europe’s debt crisis. Norway’s registered unemployment rate fell to 2.8 percent in January from 3.1 percent a year earlier, the Oslo-based Labor and Welfare Organization said today. The figure was in line with the median estimate of 13 analysts surveyed by Bloomberg.The country’s central bank in December cut its benchmark interest rate by 50 basis points to 1.75 percent to shield the world’s seventh-largest oil exporter from the fallout of Europe’s debt crisis. The nation sends more than 60 percent of its exports to the region.|
“Unemployment has fallen markedly and demand for labor has increased through January,” said Joakim Lystad, a director at the agency, in the statement. “This shows that Norway is so far little affected by the crisis in Europe.”
The number of vacant jobs grew by 12 percent in January from a year earlier, the agency said. Seasonally adjusted, the number of unemployed fell to 64,158 people, the lowest since February 2009, from 72,920 a year earlier.