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Wednesday, according to the latest Labor Force Survey from the Statistics Norway, the unemployment rate in the third quarter was 3.3%. In the same quarter of 2008, the rate stood at 2.5%. The unemployment increased 18,000 in the third quarter of 2009 from the same period of prior year. The jobless rate stood at 3.4% in the second quarter of 2009.
Further, the report showed that the labor force participation decreased to 72.6% from 74.3%. The reduction was among young people in particular.
From the third quarter of 2008 to the third quarter of 2009, employment fell 38,000. This was the highest reduction in employment on a yearly basis since 1989, the statistical office reported.
Separately, the statistical office said that the unemployment rate was 3.2% of the labor force in August, while economists were expecting a rate of 3.1%. The unemployment rate of July was revised up to 3.1% from 3%, the agency said.
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