FX.co ★ Sweden Jobless Rate Rises To 9.2%, Highest In 9 Months

The unemployment rate in Sweden rose in March to its highest level in nine months, according to data from Statistics Sweden released on Wednesday.

The unadjusted unemployment rate increased to 9.2 percent in March, up from the stable rate of 8.5 percent in February. In comparison, the rate was 7.7 percent in the same period last year.

The number of unemployed individuals also increased to 525,000 in March from 480,000 in February. Among the unemployed, 199,000 were young people aged between 15 and 24, accounting for 29.6 percent of the workforce.

Statistics indicated that the employment rate saw a slight increase from 68.1 percent to 68.3 percent, with a total of 5.188 million individuals being employed.