Despite a sluggish job market, youth unemployment in Sweden remains stable at 8.0%. While the overall unemployment rate has risen slightly, young people, especially those with higher education, are more adaptable and find jobs more easily. Gender disparities persist, with higher unemployment among young men compared to women. Experts anticipate an economic upturn that could reduce unemployment rates by next year.
Youth Unemployment Steady Despite Economic Challenges
Youth Unemployment Steady Despite Economic Challenges
Despite the sluggish job market, youth unemployment remains stable.
– This has been the positive aspect this year, says Lars Lindvall, head of forecasts at the Swedish Public Employment Service.
Approximately 43,000 young people aged 18–24, or 8.0% of the workforce, were registered as unemployed at the end of July, according to the agency's monthly statistics.
– Young people are generally more flexible, willing to move between jobs, says Lindvall.
Youth Bring Hope
Typically, a brighter job market first becomes evident among young people. However, it's too early to draw such conclusions.
– Since overall unemployment is rising, it doesn't signal a turnaround, he says.
As usual, young people without education find it hardest to get jobs, while few with higher education are unemployed. During the recession, even those with high school education have struggled.
– The largest group of unemployed youth now are those with high school education. But they usually find jobs relatively easily when the market turns, says Lindvall.
Significant Gender Differences
There is a significant difference between genders. Among young men, unemployment is 9.5%, but only 6.5% among young women.
– Women tend to pursue education more, while more men drop out of high school. Additionally, the construction industry, which employs many young men, has been struggling, explains Lindvall.
Overall, unemployment has increased from 6.8% to 7.1% over the past year, according to the Employment Service. The anticipated turnaround has been delayed as the Swedish economy struggles to gain momentum.
– But we still believe, like many other analysts, that it will turn around this fall as the economy strengthens, and by next year, unemployment will decrease, says Lindvall.