SHARE
COPY LINK

WAGES

This is how much Swedish salaries increased in 2018

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.

This is how much Swedish salaries increased in 2018
File photo: Fredrik Sandberg/TT
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. 

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

UNEMPLOYMENT

Sweden’s labour market shows cracks after years of growth

Long, steady improvements in the Swedish labour market are expected to come to an end this year.

Sweden's labour market shows cracks after years of growth
File photo: Fredrik Sandberg/TT
Redundancy support organization TRR said on Monday that nearly six years of declining unemployment figures levelled out in the autumn and is now expected to rise. 
 
“We believe that there will be a slight increase compared to 2018. We anticipate an increase of around 10 percent, going from 11,000 to 12,000 people who will need our services,” Lennart Hedström, the head of TRR Tryggehetsrådet, told broadcaster Sveriges Radio
 
 
TRR Trygghetsrådet is a non-profit group that supports redundant white-collar workers associated with the Swedish Trade Union Confederation (LO). TRR works with roughly 35,000 companies with 950,000 employers nationwide. 
 
Another redundancy group, Trygghetsfonden TSL, also expects more unemployed Swedes will need its services this year. In 2018, TSL was contacted by a record low 10,700 unemployed workers, levels not seen since before the financial crisis. 
 
“By way of comparison, in 2009 we helped 61,000 people who had lost their jobs. We estimate that the number of redundancies will increase somewhat in 2019 but will really increase in 2020,” TSL director Caroline Söder told Sveriges Radio. 
 
Both redundancy groups pointed to several signs of cracks in Sweden’s labour market, including an increase in bankruptcies and slower job growth in Stockholm. 
 
Hedström said that the capital’s slow job growth is emblematic of significant regional differences within the national labour market.  
 
“Stockholm, which has been the clear leader for quite some time, saw an increase in redundant employees in 2018. Västra Götaland is the strongest metropolitan area, while Skåne has had a fairly large increase in the number of unemployed,” he said. 
 
If you’re unlucky enough to get caught up in the expected increase in redundancies this year, here is everything you need to know if you lose your job in Sweden
SHOW COMMENTS