OSLO, May 28 (Reuters) – Norway’s unemployment rate fell to 2.6 percent in May, data showed on Thursday, confounding forecasts and leaving economists uncertain as to whether the central bank will cut interest rates further in June.
Registered, unadjusted unemployment fell from 2.8 percent in April, against expectations of a rise to 2.9 percent in a Reuters poll.
The seasonally adjusted number of people unemployed or on training schemes rose much less than forecast to 87,895 in May, against 85,601 in April, the labour organisation said.
[...] You may have heard of her. She is an amazing individual, having started out in a small town in Minneota and working her way to Fortune’s list of the 50 Most Powerful Women in American Business. Now she is starting up a new company wtih ties between Norway and Minnesota. Tysvar is the town in Norway from which her ancestors gave rise, and she still has family there. Tysvar, Norway is in the process of building the world’s largest offshore wind farm and Quam points out that the Norwegian carbon tax has spurred development of a succesful New Green Energy industry in that country. It may be just a coincidence, but Norway is also riding out the recession very well with a jobless rate of 2.6 per cent. [...]