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This is how much Swedish salaries increased in 2018

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This is how much Swedish salaries increased in 2018
File photo: Fredrik Sandberg/TT
11:29 CET+01:00
New figures released by Sweden's National Mediation Institute (Medlingsinstitutet) on Wednesday showed that salaries increased at a faster rate last year than they did the year before.
Across Sweden, salaries increased by an average 2.6 percent during the first eleven months of 2018, representing a modest increase over the 2.3 percent growth seen in 2017. 
 
Public sector wages grew by 3.0 percent in November 2018, while the private sector increase was a more modest 2.4 percent. 
 
“The boom in the Swedish economy and the strong demand for labour have not had significant impacts on the rate of wage increase in the economy as a whole,” Medlingsinstitutet economist Valter Hultén said in a press release
 
“At the same time, demand for labour is very high in the public sector and this can be a contributing factor to the wage increases being somewhat higher there than in the business sector,” he continued. 
 
Although Sweden's unemployment rate recently reached its lowest figure in ten years, there are signs that the labour market is beginning to cool.
 
Earlier this week, two redundancy support organizations said that they expected to see a significant increase in people needing their services in 2019 and in what could be considered a bad omen, Sweden's job agency warned on Wednesday that it will let eliminate upwards of a third of its workers nationwide in a move that is expected to significantly impact job-seekers. 
 
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