Sweden’s unemployment rate increased to 6.8 percent in November of 2019 from 5.8 percent in the same month of the previous year and above market expectations of 6.3 percent. The number of unemployed rose 63 thousand to 378 thousand while employment dropped 14 thousand to 5.14 million. By genders, the jobless rate was 7.1 percent among women and 6.6 percent among men. Meantime, the activity rate increased 1.0 percentage points to 73.3 percent while the employment rate was up 0.2 percentage points to 68.3 percent. Unemployment Rate in Sweden averaged 5.97 percent from 1980 until 2019, reaching an all time high of 10.50 percent in June of 1997 and a record low of 1.30 percent in July of 1989. source: Statistics Sweden
Unemployment Rate in Sweden is expected to be 6.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Sweden to stand at 6.20 in 12 months time. In the long-term, the Sweden Unemployment Rate is projected to trend around 6.20 percent in 2020, according to our econometric models.