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Sweden’s Unemployment Rate Declined in April as Job Cuts Abate

Sweden’s unemployment rate declined in April as job cuts abated in the Nordic region’s largest economy.

The non-seasonally adjusted rate, as measured by the number of people claiming benefits, fell to 4.3 percent from 4.5 percent in March, the Stockholm-based Public Employment Service said in a statement on its website today. The median estimate of six economists surveyed by Bloomberg was for 4.4 percent. The figures don’t include people in vocational training programs.

Sweden’s economic growth will improve to 1.4 percent this year from 0.8 percent last year, the central bank predicted last month. Survey unemployment, as measured by Statistics Sweden, will average 8.2 percent this year, it said. Joblessness by that measure was 8.8 percent in March, the office said on April 23.

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