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Redundancy notices hit three-year high

Redundancy notices hit three-year high

Published: 12 Oct 2012 15:41 GMT+02:00
Updated: 12 Oct 2012 15:41 GMT+02:00

The figures come on the back of 7,300 redundancy notices in September and amid warnings that there is little light at the end of the tunnel.

"We are seeing increasing concern for the debt crisis and demand crisis in Europe which affects us very much and it is very, very worrying," said Minister for Employment Hillevi Engström to the TT news agency.

According to the statistics, some 46,500 people had been served with redundancy notices through the end of September, in comparison to a figure of just under 30,000 for the corresponding period of 2011.

October has continued the trend with news reports indicating that a further 1,200 people across the country have been served notice of redundancy.

Among the companies announcing lay offs is steel firm SSAB which indicated on Thursday that 450 jobs would be cut, and paper firm Holmen which has announced the closure of its paper plant in Hallstavik north of Stockholm.

Anders Rune, head economist at employer's group Industriföretagen, argued that the crisis within the Swedish manufacturing industry is only just beginning.

"We can't detect the outline of the bottom of the economic cycle just yet," he said.

According to union group IF Metall, over 100,000 jobs have been lost within Swedish industry since the spring of 2008.

But Hillevi Engström rejected claims that Sweden is heading for the "mass unemployment" which the Red-Green opposition has long argued already exists.

"No we are not there yet. We have concerns in Sweden, but at the same time we can note that we have the lowest level of long-term unemployment in Europe."

TT/The Local/pvs (news@thelocal.se)

Your comments about this article

19:36 October 12, 2012 by Great Scott
I see the Moron Moderates policies are working to plan, they must be very happy. I wonder how long their beloved sheep will continue to support them, maybe until they lose their jobs. Interesting how Hillevi Engström continues to deny there is a problem. I can see the sign now "Will the last worker please turn off the lights and lock the door behind them."
14:26 October 14, 2012 by Social Hypocrisy
You must be right GS, the Moderates policies have lead to Sweden being reguarded as on of europes biggest failiers in the present crisis.

Haaah, if you believe that there really is no hope for you.
17:01 October 14, 2012 by Great Scott
@Social Hypocrisy

Just as alcoholics and druggies go into denial it is the same with right wing supporters. Any financial gains made by Sweden were made by saving money from the huge cuts that they made in public services. The majority of Swedes now see this as unemployment rises to levels never seen in over 100 years. I don't have worry about "hope" as I am lucky enough not to be under the influence of an incompetent government that you have in Sweden. By the way don't believe you have it so good in Sweden other countries in Europe are doing far better.
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