Sweden's wonder economy that cannot create jobs as unemployment continue to remain high
Wednesday, 11 September 2013
Swedish unemployment continues to dog the government as new data release shows unemployment remaining at a high level.
According to new figures from the Swedish Employment Service on Wednesday, in August, 402,000 people were registered as unemployed at the Employment Service meaning unemployment remained basically unchanged at a high level compared to earlier this year, but the amount of registered job seekers is 13 000 more now compared to last August.
Susanna Okeke, acting head of research at the Swedish Employment Service points out that "we believe in the growth of employment in the future but it has not taken effect yet, so that unemployment would have been falling," she said to radio Sweden.
Swedish jobs market is getting even tougher/scancomark.com
On the positive side, companies seem to have a positive view of the future as the trend with fewer layoff notices seem to continue.
A month ago, statistics were showing an improvement in the labour market and analysts estimated that unemployment might have peaked, but that does not seem to be the case, believe Okeke.
"We do not believe that the trend break has come quite yet. We still
believe that unemployment will creep up to the end of the year and that
the turnaround will not come until the beginning of next year," she
said to radio Sweden.
The number of those who were enrolled as job seekers for six months or older continues to increase. In August, the group was 221,000 people, 8,000 more than the same month last year.
"There are many who have crowded the labour market today to get a job so the competition for each job increases with time," said Susanna Okeke.
"It's worrying and we are working very intensively with these people so that they could find work again."
by Scancomark.com Team