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Financial News: Sweden Unemployment Rate Rises In December

Sweden Unemployment Rate Rises In December

01/14/2020 - 06:53:00 (RTTNews)

(RTTNews) - Sweden's jobless rate rose in December, data from the Swedish Public Employment Service/AMV showed on Tuesday.

The unemployment rate increased to 7.4 percent in December from 7.2 percent in November. In the same month last year, the jobless rate was 7.0 percent.

The number of registered unemployment increased to 373,595 persons in December from 344,413 in the same month last year.

The youth unemployment rate, which is applied to the 18 to 24 age group, increased to 9.2 percent in December from 8.7 percent in the same month last year.

The agency attributed the increase in unemployment in 2019 to the slowdown in the economy, but noted that the labor force has at the same time continued to grow at a good rate.

The PES said its forecast shows that the labor market outlook is good and there is a continued high need for labor with at least upper secondary education.

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