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Financial News: Sweden Unemployment Rate Rises In May

Sweden Unemployment Rate Rises In May

06/17/2020 - 08:47:00 (RTTNews)

(RTTNews) - Sweden's unemployment rate increased in May from last year amid ongoing coronavirus pandemic, data published by Statistics Sweden showed Wednesday.

The jobless rate rose to 9 percent from 7.1 percent in the same period last year. The number of unemployed persons increased 110,000 from a year ago to 497,000 in May.

At the same time, the unemployment rate among youth aged between 15 and 24 advanced 6.1 percentage points to 29.8 percent in May.

Smoothed and seasonally adjusted data showed an increase of 46,000 in the number of unemployed and an increase of 0.9 percentage points in the unemployment rate compared with February 2020. The unemployment rate was 8 percent.

Further, data showed that there were 5.02 million employed persons in May. The employment rate was 66.7 percent.

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