The Swedish unemployment rate decreased to 5.5 percent in October of 2018 from 6.3 percent in the corresponding month of the previous year. The number of unemployed persons went down by 34 thousand from the previous year to 302 thousand and employment rose by 108 thousand to 5.149 million. The unemployment rate was 5.5 percent among women and 5.6 percent among men. Among young people aged 15-24 there were 84 thousand unemployed persons and the unemployment rate was 14.4 percent. In September the unemployment rate was higher at 6 percent. Unemployment Rate in Sweden averaged 5.95 percent from 1980 until 2018, reaching an all time high of 10.50 percent in June of 1997 and a record low of 1.30 percent in July of 1989.
Unemployment Rate in Sweden is expected to be 5.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Sweden to stand at 5.60 in 12 months time. In the long-term, the Sweden Unemployment Rate is projected to trend around 6.50 percent in 2020, according to our econometric models.