As a result of the global trade war, the government is revising its forecast for unemployment, says the Minister of Finance at a press conference. It's very, very tough for a lot of people. Also when you now see that unemployment is expected to rise, when you're unemployed, she says.
Unemployment is estimated to rise to 8.7 percent on average this year, from 8.4 percent last year. The previous estimate was an unemployment rate of 8.6 percent in 2025.
Next year, unemployment is expected to land at 8.4 percent, an upward revision from the previous forecast of 8.2 percent.
It's still a great uncertainty, but we're following the issue very closely to see where this takes us, says Elisabeth Svantesson.
She says that there are currently many "downside risks".
We have a completely unpredictable American administration that is playing a high-stakes game with almost all of the world's economies. It will have consequences, where it will end up we don't know today.
By the end of 2025, the government expects unemployment to start coming down.
My message is that we have stable public finances, if things get even worse, we will do more, says Svantesson.
