Norway has one of the lowest unemployment rates in the world. Norway also has a high hourly productivity level.

"Norway historically has a very low unemployment rate, which was below 2% as of June 2007. The hourly productivity levels, as well as average hourly wages in Norway are among the highest in the world. The egalitarian values of the Norwegian society ensure that the wage difference between the lowest paid worker and the CEO of most companies is much smaller than in comparable western economies. This is also evident in Norway's low Gini coefficient.

Low unemployment rates is a good indicator of the efficiency of an economy. If there are numerous regulations in the labor market, this impedes companies from hiring workers. A flexible labor market encourages employment, because businesses are able to quickly adjust to different market conditions."