Sweden’s unemployment rate at 7.7% in July

The rate of unemployment in Sweden was reported at 7.7% in July, up from 6.2% in the same month of the preceding year.

The number of unemployed persons went up by 88,000 from July 2023 to 454,000, data by Statistics Sweden showed.

In the meantime, the number of employed individuals dropped by 5,000 to 5.444 million in July.

Sweden’s employment rate was reported at 72.8%, while the labor force participation rate went up by 0.1% to 77.7%.

In seasonally adjusted terms, the jobless rate stood at 8.3% in July, without change from June.

The Swedish Krona was 0.54% weaker on the day against the Euro, with the EUR/SEK currency pair last trading at 11.4314.