Sweden’s unemployment rate at 7.8% in October

The rate of unemployment in Sweden was reported at 7.8% in October, up from 7.2% in the same month of the preceding year.

The number of unemployed persons went up by 22,000 to 438,000, data by Statistics Sweden showed.

In the meantime, the number of employed individuals dropped by 45,000 to 5.192 million in October.

Sweden’s employment rate was reported at 68.2%, while the labor force participation rate went down by 0.5% to 73.9%.

In seasonally adjusted terms, the jobless rate stood at 8.5% in October, without change from September.

The EUR/SEK currency pair settled 0.13% lower at 11.5537 on Friday. For the week, the exotic currency pair went down 0.20%.