Norway is the world's third-largest oil producing nation. Its staple industries continue to thrive and develop thanks to a strong domestic economy and higher global demand and prices for Norwegian oil. Norway is one of the richest countries in terms of per capita income (second only to Luxembourg) and has been ranked by the United Nations as the best place to live in the world for five consecutive years.

It's not surprising then that Norway has a low unemployment rate relative to other OECD countries. In 2005 and 2006 unemployment levels were 3.5 percent, well below the 4.5 percent figures it experienced in prior years.