Swedish unemployment is growing more than expected in the wrong direction

Tuesday, 19 June 2012
Swedish Unemployment was 8.1 percent in May, not seasonally adjusted, according to data from Statistic Sweden’s Labour Force Survey (LFS). This growth of unemployment was going in the wrong direction. Unemployment compared to similar period last year was supposed to be going down.

According to reports, analysts had forecast according to a new survey an unemployment rate of 7.9 percent.
In April, the unemployment rate was 7.8 percent in May 2011 unemployment rate was 7.9 percent. The seasonally adjusted unemployment rate stood at 7.8 percent in May 2012, up from 7.4 percent the previous month.

In May 2012 the number of employed persons aged 15-74 amounted to 4 629 000 and the employment rate was 65.1 percent. This is no statistically significant change for either the number or the rate when compared to the same month last year. The number of permanently employed persons increased by 53 000, amounting to 3 493 000. Seasonally adjusted the number of employed persons was 4 657 000 and corresponds to an employment rate of 65.5 for the population aged 15-74.

The number of permanent employees rose by 53,000, while temporary jobs fell by 30,000.
The number of unemployed amounted in May to 410 000 people. Of these, 169 000 full-time students seeking work.

Unemployment among young people aged 15-24 was 28.0 percent, or 176 000 persons, representing an increase of 12,000 persons compared with May 2011.
The number of long-term unemployed, unemployed for more than six months, amounted to 112 000 people, resulting in a decrease of 12,000 persons compared with May 2011. This is not statistically significant.

The number of unemployed persons aged 15-74 amounted to 410 000 in May 2012, corresponding to an unemployment rate of 8.1 percent. This is no statistically significant change for either the number or the rate when compared to the same month last year. According to seasonally adjusted data the number of unemployed persons amounted to 392 000, resulting in an unemployment rate of 7.8 percent.

The labour force grew by 38 000 persons, which is not statistically significant.
Meanwhile, the number of inactive people grew by 3000, which is not statistically significant.

On average, the number of hours worked in May 2012 amounted to 145.0 million per week, not seasonally adjusted.
By Scancomark.se Team

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