Swedish Jobless Rate Climbs To 10.4%, Highest Since June 2021

(RTTNews) - Sweden's jobless rate increased further in January to the highest level in just over three-and-a-half years, figures from Statistics Sweden showed on Monday.

The unadjusted unemployment rate rose to 10.4 percent in January from 8.0 percent in December. In the same month last year, the jobless rate was 8.5 percent.

Further, this was the highest jobless rate since June 2021, when prices had risen 10.5 percent.

The number of unemployed rose to 592,000 persons in January from 454,000 persons in December.

The youth unemployment rate, which is applied to the 15-24 age group, came in at 24.7 percent in January.

Meanwhile, the employment rate dropped to 67.1 percent in January from 68.1 percent in the prior month.

On a seasonally adjusted basis, the unemployment rate was 9.7 percent in January versus 8.6 percent a month ago.