Swedish Unemployment Unchanged in April as Jobs DeclineJohan Carlstrom
Swedish unemployment stayed unchanged last month as companies have cut jobs to cope with a strengthening krona and faltering demand from the recession-burdened euro area.
Seasonally adjusted unemployment was unchanged at 8.4 percent from the previous month, Stockholm-based Statistics Sweden said today. The rate was predicted to fall to 8.3 percent, according to the median estimate of nine economists surveyed by Bloomberg. The non-seasonally adjusted rate fell to 8.7 percent from 8.8 percent.
Sweden’s government should continue to “inject energy” into the Swedish economy next year and probably also in 2015 to fight unemployment caused by faltering demand from Europe, Finance Minister Anders Borg said last week. The central bank last month delayed the timing of a planned rate increase, citing a strengthening currency and an inability by companies to raise prices.
Sweden sells about half of its output abroad, of which about 70 percent goes to Europe. Ericsson AB, the world’s largest maker of mobile phone networks, and truck maker Volvo AB, are among exporters who have announced they will cut jobs.
The number of employed, seasonally adjusted, fell to 4.683 million from 4.690 million in March.