Norway, Denmark see unemployment climb

Nordic countries Denmark and Norway reported rising unemployment Thursday, with oil-rich Norway saying the jobless rate rose to its highest level in two and a half years in January.

Both countries are seeing rising job cuts due to the economic slowdown, though they still have some of the lowest jobless rates in Europe.

The Norwegian labor office said the unemployment rate hit 2.6 percent — up from 2.0 percent in December and 1.8 percent a year ago.

In Denmark, the national statistics office said the jobless rate rose to 2.1 percent in December from 1.9 percent a month earlier. After reaching an all-time low of 1.7 percent in August and September, unemployment has been slowly increasing in Denmark.

The Norwegian figures were the highest since August 2006.

To read the full story by the International Herald Tribune, click here.