Sweden's unemployment rate rose to 7.8 percent in October 2020, from 6.0 percent in the same period last year, as the coronavirus crisis hit the labor market. The number of unemployed increased by 101 thousand from a year earlier to 430 thousand, while employment declined by 76 thousand to 5.06 million. The labor force participation rate increased 0.1 percentage points to 72.8 percent. Seasonally adjusted, the unemployment rate was 8.6 percent, slightly below market forecasts of 9.0 percent. source: Statistics Sweden
Unemployment Rate in Sweden averaged 6.02 percent from 1980 until 2020, 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. This page provides the latest reported value for - Sweden Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Sweden Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
Unemployment Rate in Sweden is expected to be 10.40 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 9.00 in 12 months time. In the long-term, the Sweden Unemployment Rate is projected to trend around 8.80 percent in 2021 and 7.50 percent in 2022, according to our econometric models.