Is Sweden’s unemployment rate high?

The unemployment rate in Sweden increased significantly from March 2020 due to the outbreak of the coronavirus (COVID-19). It was at its highest in May 2020, when it reached 9.2 percent, and has been around nine percent since. In August 2021, it fell to 8.9 percent, the lowest since December 2020.

Why is Sweden’s unemployment so high?

“Unemployment was affected by the large refugee immigration to Sweden in the mid-2010s,” said Sandra Offesson, an Arbetsförmedlingen labour market analyst. … This is the highest number since Arbetsförmedlingen began using the term in 2008.

What is the current unemployment rate in Sweden?

In the long-term, the Sweden Unemployment Rate is projected to trend around 7.70 percent in 2022 and 7.00 percent in 2023, according to our econometric models.

What country has highest unemployment?

In 2017, Burkina Faso had the highest unemployment rate in the world, at 77 percent. This means that for every 100 members of the workforce, 77 did not have jobs at the time of the survey.

Is Sweden economy sustainable?

The Swedish model is simply not sustainable. One recent paper pointed out that, between 2017 and 2025, all new jobs in Sweden will have to be created in the public sector if that sector is to keep up with demand and retain the same staffing practices.

THIS IS INTERESTING:  Is Sweden a good country for international students?

How is economy in Sweden?

Sweden’s economic freedom score is 74.7, making its economy the 21st freest in the 2021 Index. Its overall score has decreased by 0.2 point, primarily because of a decline in trade freedom. Sweden is ranked 12th among 45 countries in the Europe region, and its overall score is above the regional and world averages.

What is Sweden’s minimum wage?

Average Wages in Sweden increased to 183 SEK/Hour (3405.099 USD/Month) in April 2021. The maximum rate of average wage for employees was 184 SEK/Hour and minimum was 134 SEK/Hour. Data published Monthly by Statistics.

What is the poverty rate in Sweden?

Relative poverty (low economic standard): In Sweden, 16.4% live in relative poverty. During the period 2008–2018, the proportion increased from just over 13 percent to just over 16 percent.

What is the average income in Sweden?

In Sweden, the average household net-adjusted disposable income per capita is USD 31 287 a year, lower than the OECD average of USD 33 604 a year. There is a considerable gap between the richest and poorest – the top 20% of the population earn four times as much as the bottom 20%.