Sweden’s unemployment rate at 8.9% in April

The rate of unemployment in Sweden was reported at 8.9% in April, up from 7.5% in the same month of the preceding year.

The number of unemployed persons went up by 87,000 from April 2023 to 513,000, data by Statistics Sweden showed on Wednesday.

In the meantime, the number of employed individuals rose by 3,000 to 5.227 million in April.

Sweden’s employment rate was reported at 68.9%, while the labor force participation rate rose by 1.1% to 75.6% in April.

In seasonally adjusted terms, the jobless rate stood at 8.4% in April.

The Swedish Krona was 0.12% weaker on the day against the Euro, with the EUR/SEK currency pair last trading at 11.6195.

The exotic Forex pair has rebounded from a one-month low of 11.5704, which it registered on Tuesday.