Global| Jan 24 2006Sweden Employment Gain Best in 5 Years; Unemployment Holds Below 5%
Summary
Sweden's labor market conditions were favorable during 2006, with growth in employment and declining unemployment. The December labor force survey, reported today by Statistics Sweden, shows growth in the labor force of 1.1% year/year [...]
Sweden's labor market conditions were favorable during 2006, with growth in employment and declining unemployment. The December labor force survey, reported today by Statistics Sweden, shows growth in the labor force of 1.1% year/year and growth in employment of 1.9%. The unemployment rate was 4.6%, the fourth consecutive month below 5% and down markedly from 5.4% in December 2005.
For the year as a whole, employment expanded by 2.0%, the best performance since before dot.com-related recessionary conditions struck Sweden in late 2001. The employment rate was 74.3%, up from 73.7% in December 2005 and the highest December since 2001.
Sweden's labor force data were harmonized with the rest of the EU beginning in April 2005. Earlier data were not restated. So historical comparisons are a bit tenuous. Even so, the growth in employment is a genuine and positive development for the nation's economy and its people.
| SWEDEN: NSA (000s) | Dec 2006 | Nov 2006 | Dec 2005* | 2006 | 2005* | 2004* |
|---|---|---|---|---|---|---|
| Labor Force | 4,556 | 4,568 | 4,508 | 4,586 | 4,517 | 4,459 |
| Yr/Yr % Change | 1.1% | 0.8% | 2.0% | 1.5% | 1.3% | 0.2% |
| Employment | 4,345 | 4,370 | 4,264 | 4,340 | 4,254 | 4,213 |
| Yr/Yr % Change | 1.9% | 1.5% | 1.9% | 2.0% | 1.0% | -0.4% |
| Unemployment Rate (%) | 4.6% | 4.3% | 5.4% | 5.3% | 5.8% | 5.5% |
Carol Stone, CBE
AuthorMore in Author Profile »Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
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