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Financial News: Sweden Jobless Rate Highest Since August 2021

Sweden Jobless Rate Highest Since August 2021

06/22/2022 - 06:10:00 (RTTNews)

(RTTNews) - Sweden's jobless rate increased to the highest level in nine months in May, figures from Statistics Sweden showed on Wednesday.

The jobless rate rose to 8.5 percent in May from 8.2 percent in April and March. A similar higher rate of unemployment was seen in August last year.

In the same month last year, the unemployment rate was 9.8 percent.

The number of unemployed persons increased to 482,100 in May from 458,000 in the previous month.

The youth unemployment rate, which is applied to the 15-24 age group, rose to 26.3 percent in May from 26.0 percent in the prior month.

The employment rate increased to 68.7 percent in May from 68.5 percent in April. The number of employed persons rose to 5.175 million from 5.151 million in the previous month.

The number of foreign born employment increased by 84,000 to 159,000 in May compared to last year, the agency said.

On a seasonally adjusted basis, the unemployment rate was 7.7 percent in May.

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