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Financial News: Sweden Unemployment Rate Falls In July

Sweden Unemployment Rate Falls In July

08/20/2020 - 06:58:00 (RTTNews)

(RTTNews) - Sweden's jobless rate declined in July from last month, data from Statistics Sweden showed Thursday.

The unemployment rate fell to 8.9 percent in July from 9.8 percent in June. In the same period last year, the rate was 6.9 percent.

On a seasonally adjusted basis, the unemployment rate was 9.4 percent in July.

The number of unemployed among young people aged between 15 and 24 increased by 42,000 from last year to 164,000 in July. The jobless rate climbed by 7 percentage points to 23.0 percent.

Another report from the statistical office showed that employment decreased by 1.9 percent in the second quarter.

There were 4.78 million employees in the second quarter. Total gross pay amounted to SEK 485 billion, a decrease of 0.4 percent.

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