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Political Economy

Swedish households continue to enjoy impressive economic standard

Monday, 18 February 2013
The economic standard for Swedish households has increased significantly during the 2000s. In 2011 the economic standard was more than 40 percent higher than in 1999.

The Swedish Statistic office, statistic Sweden made this observation today in a new press release but also continue that the increase has not been as significant for everyone or for all households, as such income inequality has become greater.

The median value for the economic improvement in standard in the population in 2011 was 41 percent higher than in 1999. The increase between 2010 and 2011 was 3 percent, said statistic Sweden.

Not all groups have benefited from that increase. The youngest persons have experienced better developments than the oldest persons. For those who are under age 20, the increase was 46 percent while those age 75 and above had an increase of 26 percent.

The economic standard for gainfully employed persons (aged 20-64) increased by 41 percent, while those not gainfully employed had an increase of 9 percent. In 2011 the economic standard for those not gainfully employed was 58 percent of those who were gainfully employed. In 1999 the corresponding figure was 75 percent.

Foreign born persons did not have as large an increase as Swedish born persons. Adult (aged 20 and above) foreign born persons saw their economy grow 27 percent, compared to 41 percent for Swedish born persons.

Income has increased at all income levels but the increase is significantly larger for those with the highest incomes. Income increased by 55 percent for the tenth of the population that has the highest economic standard. The tenth of the population with the lowest economic standard had an increase of 21 percent.

The percentage of the population with a low economic standard increased from 8.4 percent in 1999 to 14.4 percent in 2011. In 2010 that figure was 14.1 percent. For singles with children the share has increased from 11 to 31 percent, while among cohabiting adults with children the share has only increased from slightly less than 8 percent to slightly more than 9 percent.
News sources: Statistic Sweden.

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