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Sweden Jobless Rate Lowest Since Oct 2008

Sweden's unemployment rate decreased more-than-expected in August to the weakest level in nearly nine years, figures from Statistics Sweden showed Thursday.

The jobless rate dropped to 6.0 percent in August from 6.6 percent in the previous month. Economists had expected the rate to fall to 6.4 percent.

In the corresponding month last year, the unemployment rate was 6.6 percent.

Moreover, the latest jobless rate was the lowest since October 2008, when it was 5.7 percent.

The number of unemployed people fell to 325,700 in August from 362,200 in the prior month. A year ago, the jobless figure totaled 349,700.

The employment rate decreased to 69.0 percent in August from 69.8 percent in July.

The seasonally adjusted jobless rate came in at 6.6 percent in August, down from 7.7 percent a month earlier.

by RTTNews Staff Writer

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