RTTNews | May 28, 2021 06:35AM EDT

06:35 Friday, May 28, 2021 (RTTNews.com) - Norway's unemployment rate eased for a fourth month and at a sharp pace to its lowest level in over a year in May, figures from the country's public employment service NAV showed Friday.

The non-adjusted unemployment rate fell to 3.3 percent from 4.0 percent in April. Economists had expected 3.5 percent. A year ago, the rate was 6.4 percent.

The latest jobless rate is the lowest since February 2020, when it was 2.3 percent.

The number of unemployed dropped to a fifteen-month low of 94,086 persons from 113,259 in April.

On a seasonally adjusted basis, the jobless rate was 6.5 percent and the number of unemployed fell by 6,300 to 183,900 persons. "There has been a large decline in the number of jobseekers in the last month, after the infection control measures have been eased in several places," Director of Labor and Welfare Hans Christian Holte said.

"But the effect of the latest national reliefs and the reopening in Oslo will not be visible until next month," the official added.

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