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Sweden February Jobless Rate Below Forecast

Sweden's jobless rate came in below economists' forecast in February, data from Statistics Sweden showed Thursday.

The unemployment rate declined to 7.8 percent in February from 7.9 percent last year. Economists had expected the jobless rate to be 8 percent. In January, the figure was 8 percent. The number of unemployed persons was 389,000.

The jobless rate among youth aged between 15 and 24, increased to 25.2 in February from 26.2 a year ago. The number of unemployed youth were 147,000 in February.

The figures for February 2012 as a whole continue to indicate that there is a slowdown on the labour market, the agency said.

On a seasonally adjusted basis, the unemployment rate fell to 7.5 percent from 7.6 percent in January. The number of jobless was 377,000.

by RTTNews Staff Writer

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