15.02.201805:40:00UTC+00Sweden Jobless Rate At 7-Month High

Sweden's unemployment rate increased as expected in January to the highest level in seven months, figures from Statistics Finland showed Thursday.

The jobless rate climbed to 7.0 percent in January from 6.0 percent in December. That was in line with economists' forecast.

Moreover, this was the highest unemployment rate since June 2017, when it was 7.4 percent.

In the corresponding month last year, the unemployment rate was 7.3 percent.

The number of unemployed people rose to 376,000 in January from 321,000 in the previous month.

At the same time, the employment rate fell to 66.8 percent in January from 67.3 percent in the preceding month.

On a seasonally adjusted basis, the jobless rate remained unchanged at 6.5 percent in January.