Sat, 19 Sep 2020

Sweden's unemployment rate rises in Q2

Xinhua
12 Aug 2020, 20:05 GMT+10

STOCKHOLM, Aug. 12 (Xinhua) -- The unemployment rate is rising in Sweden due to the ongoing pandemic and dramatically impacting young people, a labor force survey showed on Tuesday.

According to Statistics Sweden's survey for the second quarter, 505,000 people aged 15-74 in Sweden were unemployed, which corresponds to an unemployment rate of 9.1 percent, an increase of 2.1 percentage points compared with the same period last year.

"Unemployment has increased in the age group of 15-44 years old. The largest increase is among people aged 15-24, and this applies to both men and women," said Magda Tordenmalm, administrator of the labor force surveys at Statistics Sweden.

People with fixed-term employment were among the groups that were hit hard by the job-loss. The number amounted to 692,000 people during the second quarter, a decrease of 87,000 from the same period last year, according to the survey.

"It is above all the younger people who have lost their fixed-term employment, the largest group are people between 15 and 34 years old. And it is young women who seem to have been hit the hardest," said Tordenmalm.

The number of people employed in Sweden was 5,048,000 during the second quarter, said the survey, a decrease of 98,000 year on year. It corresponds an employment rate of 67 percent in the population.

The Swedish Public Employment Service has also published statistics which show that around 134,000 more people are registered as unemployed compared with the end of July last year.

However, after a large increase in newly registered unemployment during the spring, the rate of increase has slowed down during the summer. The Swedish Public Employment Service has therefore lowered forecast of how many more are expected to lose their jobs before the winter.

Swedish Minister for Employment Eva Nordmark sees this as a positive sign but does not want to draw any far-reaching conclusions.

"This is the most serious situation in the Swedish labor market in modern times," Eva Nordmark told the Swedish news agency TT.

More Stockholm News

Access More

Sign up for Stockholm News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!