Swedish labour market remains stable at a high rate signally not cut in interest rates

Wednesday, 23 May 2012
The Swedish unemployment rate in April has bee reported to have remained unchanged in seasonally adjusted terms. At the same time there has been increasing employment, particularly among women. On the whole, the stable job market situation in the Swedish labour market reduces the likelihood for a new interest rate cuts from the Swedish central bank, Riksbank.

Official data from statistic Sweden in April 2012 show that the number of employed persons aged 15-74 amounted to 4 609 000. The number of unemployed persons amounted to 390 000, corresponding to an unemployment rate of 7.8 percent. On average the number of hours worked amounted to 142.6 million per week. Seasonally adjusted data shows a continued increase in the number of employed and a decrease in unemployment among women.
Despite instability on the world markets, the development on the Swedish labour market shows no apparent change in April. Neither the number of employed or unemployed persons nor the number of hours worked shows any significant change compared to April last year. At the same time seasonally adjusted data for the latest months show a slight positive development.

In April 2012 the number of employed persons aged 15-74 amounted to 4 609 000. This is no statistically significant change when compared to the same month last year. The employment rate was 64.9 percent. The number of employees in the private sector increased by 52 000, amounting to 2 795 000. Seasonally adjusted the number of employed persons was 4 655 000 and corresponds to an employment rate of 65.5 for the population aged 15-74.

On average, the number of hours worked in April 2012 amounted to 142.6 million per week, not seasonally adjusted.

The number of unemployed persons aged 15-74 amounted to 390 000 in April 2012, corresponding to an unemployment rate of 7.8 percent. According to seasonally adjusted data the number of unemployed persons amounted to 368 000, resulting in an unemployment rate of 7.3 percent.

The number of persons outside the labour force in April 2012 was 2 106 000.

In a statement, statistic Sweden writes that "despite uncertainty in the world as shown on the development in April 2012, no significant changes have been observed in the Swedish labour market."

Employment increased, but the change was not statistically significant. The tendency that it is mainly among women employment increases and unemployment declines will continue.
News source: Statistic Sweden / Scancomark.se Team

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