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Swedish jobs market hold unsurprisingly despite persistent dim economic outlook.

Tuesday, 19 February 2013
The Swedish job market has seen an increased numbers of employed and no increase in unemployment as the labour market continues to hold unexpectedly better than thought.

In January, employment increased while unemployment remained unchanged new data from statistic Sweden show. Given the past autumn's sharp slowdown in the economy, labour market developments in recent months, has emerged as a positive surprise.

In January 2013, the number of employed persons aged 15-74 years amounted to 4 578 000. Compared to the same period last year this is an increase of 58 000 persons.

The number of unemployed persons amounted to 421 000, corresponding to an unemployment rate of 8.4 percent. On average, the number of hours worked was 132.1 million per week. Seasonally adjusted data show a slight increase in the number of employed and the number of persons in the labour force.

In January 2012 the estimates were more uncertain and the number of employed is thought to have been underestimated. The increase in the number of employed between 2012 and 2013 might thus be overestimated.

"The labour market was stronger than expected in January, with an unchanged unemployment rate in seasonally adjusted terms. But, as is often the case, the statistics are a bit mixed, with a slightly lower employment growth than we had thought, "writes the bank, SEB in a statement, according to Swedish business daily Dagens Industri. Team

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