Workers dismissed from Northvolt to get EU aid
The EU parliament voted on December 16th to disburse 8.5 million euros – approximately 92 million kronor – to help support workers laid off by battery producer Northvolt in March. The vote was backed by a large majority, with 578 in favour, 54 against, and 30 abstentions.
Funds will be released to former Northvolt workers via the European Globalisation Adjustment Fund for Displaced Workers (EGF).
According to a press release from the EU Parliament, the EU will cover 60 percent (€8.5 million) of the estimated 14.2 million euro cost of the assistance through the EGF fund, while Swedish authorities will contribute the remaining 5.7 million euros.
The measure will assist approximately 5,800 workers in re-entering the labour market through personalised career guidance, coaching, allowances, educational training and assistance for starting a business.
Swedish members of the EU parliament were divided on the vote. Members from the Moderates, the Liberals, the Social Democrats, the Left Party, and the Green Party voted yes, while the Sweden Democrats, the Christian Democrats, and the Centre Party representatives voted no.
Swedish vocabulary: stöd ‒ aid or support
Fixed-term mortgage rates starting to rise
The Swedish central bank has finished cutting interest rates and fixed-term rates are on the rise, according to a new forecast by state-owned mortgage bank SBAB.
"If our forecast of variable rates and longer-term fixed rates is right, then the window for insuring yourself against unexpected interest rate movements at a good price could be closing," the bank's chief economist Robert Boije said in a statement.
SBAB predicts that the key interest rate will remain at the current level, 1.75 percent, for the entirety of 2026, meaning that the variable rate should also remain at that level.
Despite this, fixed-term rates, which are partly influenced by the general situation on the bond market, appear to be rising, with some banks already raising rates on this type of mortgage.
Swedish vocabulary: bundna räntor ‒ fixed-term rates
Weak growth for Swedish trade in November
Grocery sales increased by 3.4 percent in November this year, compared with the same month in 2024.
Sales in brick-and-mortar shops saw a 3.3 percent increase over the same period, while online sales increased by 4.4 percent.
Deliveries also increased by 5.9 percent, as did sales which were picked up in store, which saw an increase of 2.4 percent, according to an index by industry organisation Svensk Dagligvaruhandel.
Swedish vocabulary: dagligvaror ‒ consumables/groceries (literally: daily goods)
Swedish labour market recovering slowly
Unemployment rates are falling, but recovery is slow, according to a new forecast from the Public Employment Agency. The agency expects the current economic downturn, caused by high inflation and rising interest rates and prolonged by geopolitical unrest and US tariffs, to affect the labour market for much of 2026 and 2027.
Fresh monthly figures from November show that the general trend on the labour market for the autumn has been positive.
"Fewer people are registering and slightly more have found work, which is of course very positive," Public Employment Agency analyst Marcus Löwing said, while adding that the unemployment rate won't fall to the same level it was at before the downturn hit until 2027.
"It's dragging behind a bit," he said.
Long-term unemployment also seems to be stable, but at a higher level than before the downturn. Four groups make up the majority of people in this group, he said.
"People who have little education, who were born outside Europe, who have disabilities and the elderly tend to be at a greater risk of getting stuck without a job for a longer period. They make up 80 percent of that group."
Swedish vocabulary: långtidsarbetslös ‒ long-term unemployed
Comments