Sweden's unemployment rate held steady at 8.7% in August, according to Statistics Sweden, with employment levels also unchanged. The figures highlight a persistently weak labor market, despite alternative measurements by the Public Employment Service showing a lower rate of 7%. The inclusion of students seeking part-time work contributes to Sweden's high ranking in EU unemployment statistics.
Sweden's Unemployment Rate Remains Stubbornly High in August
Sweden's Unemployment Rate Remains Stubbornly High in August
Sweden's unemployment and employment rates remained unchanged in August compared to previous months, according to new monthly figures from Statistics Sweden (SCB).
The unemployment rate stood at 8.7%, based on seasonally adjusted and trend data, unchanged from July and June. Employment, measured as a percentage of the population, also remained steady at 69.0%.
"The labor market remains weak in August, and unemployment remains at a higher level," says Sandra Medenica, a statistician at SCB, in a press release.
While it is clear that unemployment is higher than normal, there are other ways to measure it that provide a slightly nuanced picture. According to the Public Employment Service, unemployment was at 7% in August. The Public Employment Service measures those actually registered with the agency and only in the age group 16-65, while SCB's figures are based on a statistical sample in the age group 15-74 years.
SCB statistics also include students at colleges and universities seeking part-time jobs. In August, over 90,000 full-time students were counted as unemployed. During the academic term (August is not typically a student period), that number usually exceeds 150,000.
This is also a reason why Sweden ranks so high, third highest, among EU countries with the highest unemployment rates.