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Swedish Jobless Rate Drops In March

4/24/2012 3:46 AM ET

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

The unemployment rate dropped to 7.7 percent in March from 8.1 percent in March 2011. Economists expected the jobless rate to be 8 percent.

The number of jobless persons in the country decreased by 3.6 percent on an annual basis to around 389,000 in March.

Meanwhile, the employment rate increased to 65.4 percent during the month from 64.7 percent last year. The number of persons in employment was around 4.64 million in March, up 1.7 percent compared to last year.

by RTT Staff Writer

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