Norway’s labor market is defying the central bank’s forecasts of softening, with adjusted unemployment staying put this month in another sign of resilience in the energy-rich Nordic economy.

The seasonally-adjusted registered jobless rate for July was 1.8%, same as in previous three months, data from the Norwegian Labor and Welfare Administration showed on Friday. Norges Bank had projected an increase to 1.9% in its latest monetary policy report.

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Norway’s Jobless Rate Stays Put, Defying Norges Bank Forecast