High inflation and a declining economy leave a mark on the Swedish economy. Now this is also reflected in how the labor market develops.
In October, almost 5,000 people were notified of dismissal, which can be compared to around 2,000 people per month during the period January to September, the Employment Service writes in a press release.
“An indication”
However, the notification does not have to mean that there will be as many people who are laid off in the end. Above all, it is companies in trade and industry that give notice of dismissal.
– It is an indication that something is happening, it is a higher number than before, says Arbetsförmedlingen’s unit manager Anders Ljungberg to Ekot.
He believes that the high costs affect households and the will to consume, which in turn now seems to affect the labor market.
Unemployment decreased
At the same time, unemployment decreased in October, but the decrease is at a slower pace than before.
In total, approximately 333,000 people were registered as unemployed during October, which is a decrease of 45,000 since last year at the same time. The unemployment rate is 6.6 percent, compared to 7.3 percent in October last year, according to Arbetsförmedlingen’s figures. ‘
Anders Ljungberg tells Ekot that the authority’s assessment is that unemployment will increase at a somewhat faster rate during the second quarter of 2023, but that you will have to follow the numbers carefully to see how the development will be.