Not since the financial crisis has unemployment in Sweden risen as fast as it has done in the past few months. The increase on a year ago – from 6.1 per cent to 7.1 per cent according to Statistics Sweden - is somewhat over predictions. The government had expected unemployment to rise from 6.3 per cent this year to 6.4 per cent next year.
Johan Löf, senior economist from Handelsbanken, believes it could be a false alarm: “We have become suspicions as the labour surveys are showing differently from other statistics.” He believes there are several figures that point against a crisis.
Statistics Sweden is also warning against placing too much importance on individual monthly figures.
However, Susanne Spector, a senior economist at Nordea, assesses the latest figures to be in line with expectations. “My perspective is that there is a clear deterioration,” she says.
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