2023.11.1706:36:00UTC+00Sweden Jobless Rate Falls To 7.4%

The Swedish unemployment rate decreased in October after remaining stable in the previous month, figures from Statistics Sweden showed on Friday.

The unadjusted jobless rate dropped to 7.4 percent in October from 7.7 percent in the previous month.

In the same month last year, the unemployment rate was 7.1 percent.

The number of unemployed people declined to 416,100 in October from 436,900 in September.

Young people between the ages of 15 and 24 accounted for 121,000 unemployed people, or 19.8 percent of the workforce, the agency said.

Data showed that the employment rate also fell to 68.9 percent from 69.2 percent, representing 5.237 million employed people.

On a seasonally adjusted basis, the jobless rate rose somewhat to 8.0 percent from 7.9 percent.