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Sweden

Historically poor labor market during the pandemic

  • 2020 was the worst year on the labor market since the crisis of the 1990s. At the end of December, just over 456,000 people were unemployed, which corresponds to an unemployment rate of 8.8 per cent, an increase of 1.4 percentage points during the pandemic year, according to the Swedish Public Employment Service’s way of counting.
  • In total, more than 123,000 people were notified of redundancies, the highest number since 1992.
  • After being fairly quiet during the autumn, unemployment is now expected to rise again and a major risk, according to the Swedish Public Employment Service, is that long-term unemployment will bite at high levels.

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