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Swedish unemployment falls lower than expected

Wednesday, 19 June 2013
Swedish unemployment fell sharply and unexpectedly in May. Employment increased, particularly among women.
Unemployment fell in May to 8.2 percent from 8.7 percent in April from 8.5 percent in May 2012. The seasonally adjusted unemployment rate fell to 7.9 percent from 8.4 percent in April according to official data from Statistic Sweden, (SCB).

The decline was unexpected and analysts whom various media organisations contacted generally had expected an unemployment rate to rise to 8.8 percent non-seasonally adjusted 8.4 percent seasonally adjusted.

"March and April figures were strange and now we got a rebound, "said Knut Hallberg, analyst at Swedbank, to Reuters.

The number of employed persons increased by 51,000 in annualized terms. Women accounted for two-thirds of the increase. "Seasonally adjusted data show a continued upward trend in both the number of persons in the labour force as the number of employed and particularly for women, "writes the SCB.
by Scancomark.com Team

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