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Swedish unemployment continues to increase and the tiger becomes a cat

Tuesday, 17 April 2012
Already there are youths and immigrants –looking people who are already excluded from the jobs market according Swedish “natural selection.” Now the overall open unemployment in Sweden in March amounted to 211 000 persons, or equivalent to 4.5 percent of the workforce.

Analysts had expected an unemployment rate of 4.6 percent, according to media reports. The range of expectations falls between 4.5  and 4.7 percent with a median of 4.6 percent.

In February the unemployment rate was 4.7 percent a year ago was 4.5 percent.
If the people participating in programs with financial support from the government are included, unemployment would be 8.5 percent, compared with 8.7 percent a month ago or 8.5 percent a year ago.
At the end of March there were 396 000 persons or 8.5 percent of the workforce unemployed or enrolled in job seeking actions with the Swedish Employment Service. That is over 8 000 more than a year ago.

Meanwhile, vacancies at the Employment Service offices have fallen meaning that job creation is no where to be found.
"Compared to one year ago, it is clear that the labour market has weakened. It shows that the number of registered unemployed continues to rise and demand for labour is not as big as last year. But there are still many recruiting, "said Swedish Employment Service's forecast manager, Tord Strannefors.

During March, 69 892 vacancies were reported to the country's Employment agencies, compared with 74 037 during the corresponding month last year. 24 406 people registered as unemployed during the month compared with 24 836.
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