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Financial News: Sweden Jobless Rate Steady In September

Sweden Jobless Rate Steady In September

10/17/2019 - 10:27:00 (RTTNews)

(RTTNews) - Sweden jobless rate remained stable in September, figures from Statistics Sweden said Thursday, while adding that it has identified some flaws in its calculations.

The unemployment rate rose 7.1 percent in September, the same rate as seen in August. Economists had expected the rate to ease 6.7 percent.

However, the rate was higher by 1.1 percentage points from a year ago.

The statistical office said quality flaws were identified in the Labour Force Survey for September and for some time previously.

Hence, unemployment for September is overestimated and employment is slightly underestimated, the agency added.

The statistical office urged caution in interpreting the outcome, in particular with regard to changes within one year.

The youth unemployment rate, which is applied to the age group of 15 to 24, rose slightly to 18.4 in September from 18.2 in the preceding month.

The number of unemployed persons decreased to 391,000 in September from 393,000 in the prior month.

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