Highest warning level in August since 2012

The unemployment rate remains at historically high levels and unemployment is rising to its highest level since the beginning of 2022. The labor market situation is deteriorating further, according to monthly statistics from the Employment Service.

» Updated:

» Published:

Highest warning level in August since 2012
Photo: Henrik Montgomery/TT

Share this article

In August, just over 4,100 people were notified of redundancy, compared to 3,400 the same month last year. It is not an extremely high level normally, but for a summer month like August, it is still an unusually high figure, the highest since 2012.

"There are several signs of a weak labor market. Just like we saw last month, unemployment is rising slightly, the number of redundancies is slightly higher, and the number of vacant positions is developing weakly," says Lars Lindvall, forecasting manager at the Employment Agency, in a written comment.

However, his forecast is that unemployment will decrease again next year as the economy is expected to strengthen.

At the end of August, 360,200 people, or 6.8 percent of the workforce, were registered as unemployed with the country's employment agencies. This is the highest level since the beginning of 2022. The corresponding figures for August 2023 were 330,900 or 6.3 percent. The highest unemployment rate is still in Skåne, 9.1 percent, and the lowest in Västerbotten, 3.8 percent.

Youth unemployment (18-24 years) shows the same pattern. 45,600 young people were registered as unemployed, 6,000 more than in August last year, with young men being significantly more unemployed than young women.

The long-term unemployed (more than twelve months) have increased by 7,000 and now stand at 144,000 people.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Fed Board Member Lisa Cook Retains Position After Court Ruling

Fed Board Member Lisa Cook Retains Position After Court Ruling

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Agree on Tiktok Deal Framework

USA and China Agree on Tiktok Deal Framework

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Swedes Report Decreased Satisfaction with Banks This Year

Swedes Report Decreased Satisfaction with Banks This Year

Fashion Trade Sales Rise for Third Consecutive Month

Fashion Trade Sales Rise for Third Consecutive Month

Powell's Rate Signal Influences Swedish Households Too

Powell's Rate Signal Influences Swedish Households Too

Asian Markets Rise Despite Weak China Data

Asian Markets Rise Despite Weak China Data

ANZ Bank Faces Record Fines for Bond Deal Misconduct

ANZ Bank Faces Record Fines for Bond Deal Misconduct

Trump Welcomes Foreign Investment and Workforce in the USA

Trump Welcomes Foreign Investment and Workforce in the USA

Government Boosts Support for Sweden's Regional Airports

Government Boosts Support for Sweden's Regional Airports

Klarna CEO: Embracing "Swedishness" as a Key Asset

Klarna CEO: Embracing "Swedishness" as a Key Asset

Handelsbanken Swish Payment Disruption Resolved

Handelsbanken Swish Payment Disruption Resolved