Fears of growing jobs losses in Sweden in the coming months as economic growth persistently fail to translate to job growth

Saturday, 04 August 2012
The Swedish economy just posted surprise economic growth earlier this week, higher that expectation. But one thing that is phenomenal with the Swedish economic scene is economic growth that is not tied to job creation. Going forward in that line, there is increasing fears that more Swedes will soon join the ranks of the joblessness as notices for redundancy have been increasing in the country. During the past six months about 30 000 persons were given notices and they risk losing their jobs.

The numbers of notices are somewhat higher than in the first half of 2011, when about 20 000 were given, according to the Swedish Employment Service figures reports Radio Sweden.

The retail and manufacturing sector are among the sectors that are hardest hit. In automobile production, notices rose from around 700 last year to about 3000 this year.

Last Monday 30th, Swedish statistic office reported that Sweden's GDP increased 2.3 percent in the second quarter compared to the second quarter of 2011. As such as the economy growths, unemployment also grows, currently at 8.8 percent higher than the US 8.3 percent.
By Scancomark.se. Team

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