Sweden’s jobless rate rises in October

Sweden’s jobless rate increased in October from the previous month. It came in more than the consensus projection of 6.3 percent. Seasonally adjusted unemployment rate rose to 6.9 percent from September’s print of 6.7 percent, whereas seasonally unadjusted jobless rate increased to 6.4 percent in October from 6.1 percent in the prior month.

The number of jobless people totalled 338,000 on a seasonally unadjusted basis, according to Statistics Sweden. Unemployment rate amongst women reached 6.2 percent, whereas amongst men it was 6.6 percent. On a seasonally adjusted basis, the number of unemployed persons totalled to 364,000. The jobless rate amongst women came in at 6.5 percent, whereas for men it was 7.3.

The total number of employed persons on a seasonally unadjusted rose 77,000 to 4,930,000. On seasonally adjusted basis, the total number of employed persons rose by 60,000 to 4,429,000.

On an average, the number of hours worked in October totalled 167.7 million per week, seasonally unadjusted. Taking differences in holiday into account, the rise was 2.7 percent year-on-year. According to smoothed and seasonally adjusted data, the number of hours worked totalled 150.2 million per week.