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Unemployment dropping at record pace

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15:20 CET+01:00
The number of people employed in Sweden has risen by 158,000 over the course of a year, which represents the fastest annual increase since records began. The official unemployment rate in January was 5.3 percent, down from 6.3 percent a year earlier, according to Statistics Sweden.

The figure does not fully conform to the EU-harmonised Labour Force Survey because it omits certain groups of unemployed people. When adjusted to comply with EU norms the unemployment rate rises to 6.4 percent.

Part-time workers wanting to work longer hours, most of whom are women, constitute another form of hidden unemployment. A total of 295,000 would like to work more than they do at present.

The official unemployment rate was marginally above market expectations of 5.1 percent, according to a survey of economists by SME Direkt.

The number of people registered as unemployed stood at 245,000 in January, down from 283,000 a year earlier.

Employment amounted to 4.349 million, up 158,000 from January 2006.

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