Sweden: Unemployment increased to 6.3% in April – Nordea Markets
|Andreas Wallström, Analyst at Nordea Markets, notes that Sweden’s unemployment increased to 6.3% in April, which is in line with the Riksbank’s forecast but way above the government’s target.
Key Quotes
“The outcome is, however, fully in line with the Riksbank’s forecast at 6.3% on average for Q2.”
“Employment stayed unchanged over the month, while we had expected a modest increase. Labour supply rose in line with expectations.”
“All in all, the report was healthy although not super strong. The continued low unemployment rate (likely below the natural rate) may give the Riksbank faith in higher wage growth. So far, however, wage growth has been modest and we don’t foresee any noticeable increase going forward.”
“The government’s goal of reaching the lowest unemployment rate in the EU remains distant.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.