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Swedish Jobless Rate Drops In January

Sweden's unemployment rate decreased from last year in January, data released by Statistics Sweden showed Wednesday.

The unemployment rate dropped to 8 percent in January from 8.2 percent in the same month last year. Economists expected the jobless rate to be 7.9 percent. The unemployment rate among youth, aged between 15 and 24, decreased to 24.2 percent in January from 24.6 percent a year earlier.

The number of unemployed persons decreased 3.3 percent on an annual basis to 394,000 in January, the agency said.

At the same time, the employment rate dropped to 63.7 percent in January from 64.5 percent last year. The number of employed edged down by 0.5 percent annually to around 4.52 million.

by RTTNews Staff Writer

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