That unemployment in Sweden is the highest it has been for a long time is nothing new. But the number of Swedes who are between jobs results in record amounts being paid out to Swedes’ accounts.
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Record-breaking payouts from the social security fund in 2024
In 2024, unemployment funds around the country paid out a breathtaking 21.5 billion kroner, an increase of 39 percent compared to the year before, the service and interest organization Sweden’s unemployment funds states in a press release.
– In times of high unemployment, more people should review their protection to be safe in working life. That is why it is gratifying that a majority, seven out of ten Swedes, are already members of an unemployment fund today, says Tomas Erikssonhead of office at Sweden’s unemployment insurance funds.
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Photo: Screenshot of Sweden’s unemployment insurance funds This is where the payouts increased the most
The largest increase in payments was noted in Västmanland and Halland – with 50 and 49 percent respectively. This can be compared with Norrbotten, which had the lowest increase of 16 percent.
– The fact that unemployment is high can be seen in the record-breaking payments from the unemployment fund. It will be clear proof that in difficult times the unemployment insurance fund has an important function as both security and adjustment insurance, says Eriksson.
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Record-breaking sums during the pandemic years
There are 24 different unemployment funds in Sweden and seven out of ten Swedes are currently members of one of them. Anyone who is a member can receive up to 80 percent of their previous salary in compensation in the event that they become unemployed, for up to 300 days.
Sweden’s unemployment insurance funds state that the amount of payments from the unemployment insurance fund increased during the pandemic and then fell again in 2022 and 2023. In line with high levels of unemployment in Sweden once again, the total amount of compensation has risen sharply. However, they are not yet up to the record high levels that prevailed during the pandemic years.
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