Unemployment remains at high levels

Unemployment in Sweden continues to be at high levels. At the end of February, over 378,000 people were registered as unemployed with the Employment Service.

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Unemployment remains at high levels
Photo: Johan Nilsson/TT

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There is a slight decrease from 381,000 people in January this year, but an increase compared to February 2024.

The Employment Service's forecast chief Lars Lindvall says, according to a press release, that the decrease that has occurred between the first two months of the year should be viewed with caution.

"It is a decrease, which is of course pleasing, but it is weak and it is too early to talk about a turnaround on the labor market", says Lars Lindvall.

He also says that it is important to note that there are approximately 20,000 more people registered as unemployed now compared to a year ago, and unemployment is still at high levels.

According to the Employment Service, there are several signs that the current recession continues to weaken the labor market.

"The number of vacant positions is developing weakly, which shows that the demand for labor is still dampened. Moreover, nearly 5,000 people were notified of redundancy in February", says Lars Lindvall.

7.2 percent of the workforce were registered as unemployed at the end of February 2024. The corresponding figure in February last year was 6.8 percent.

8.1 percent of young people aged 18-24 were registered as unemployed. The corresponding figure in February last year was 7.9 percent.

152,402 of the registered unemployed have been without work for 12 months or more. The corresponding figure in February last year was 141,505.

Source: The Employment Service

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

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