Norway’s rate of unemployment rose sixfold in March to 14.7%, the Labour and Welfare Agency (NAV) said on Friday, the highest level on record as the economy ground to a halt amid efforts to curb the coronavirus pandemic.
As many as 10.7% were fully unemployed, while the remaining 3% were registered as partially unemployed, NAV added.
The Norwegian government three weeks ago announced emergency shutdowns of many public and private institutions, including schools and kindergartens, sending the economy into a tailspin and triggering hundreds of thousands of layoffs.
Chosen excerpts by Job Market Monitor. Read the whole story @ UPDATE 1-Norway’s unemployment soars to record 14.7% of work force – Reuters