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Financial News: Sweden September Jobless Rate Climbs

Sweden September Jobless Rate Climbs

10/14/2019 - 10:33:00 (RTTNews)

(RTTNews) - Sweden's jobless rate rose marginally in September amid the first increase in youth unemployment in six years, data from the Swedish Public Employment Service on Monday.

The jobless rate rose to 7.0 percent in September from 6.9 percent in the same month previous year.

The number of unemployed persons increased to 353,499 in September from 342,750 in the previous year.

The youth unemployment rate, applied for the age group of 18 to 24, rose to 9.1 percent in September from 9.0 percent in the last year.

The increase in the youth unemployment rate was the first since 2013, the agency said.

The number of youth unemployed persons went up to 49,265 from 48,610.

Anders Ljungberg, head of unit for labor market analysis at the PES, attributed the increase in youth unemployment to the slowdown in the economy as young people often have less secure forms of employment.

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