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MNI INTERVIEW:Swedish Hiring Data May Reflect Worker Shortages

(MNI) London

Sweden’s National Institute finds confidence plunging but suspects firms may struggle to fill vacancies.

Robust corporate hiring plans reported together with plunging consumer confidence in the latest survey by Sweden’s National Institute of Economic Research may partly reflect problems in filling vacancies, though the discrepancy between the two measures may eventually narrow if unemployment remains contained, NIER division head Fredrik Johansson-Tormod told MNI.

A mix of factors, including the war in Ukraine and high inflation, appear to be driving down consumer sentiment even as firms try to respond to a brighter outlook as the Covid pandemic eases, clouding the picture for policymakers, Johansson-Tormod said in an interview ahead of the Riksbank’s policy decision due on Thursday.

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Robust corporate hiring plans reported together with plunging consumer confidence in the latest survey by Sweden’s National Institute of Economic Research may partly reflect problems in filling vacancies, though the discrepancy between the two measures may eventually narrow if unemployment remains contained, NIER division head Fredrik Johansson-Tormod told MNI.

A mix of factors, including the war in Ukraine and high inflation, appear to be driving down consumer sentiment even as firms try to respond to a brighter outlook as the Covid pandemic eases, clouding the picture for policymakers, Johansson-Tormod said in an interview ahead of the Riksbank’s policy decision due on Thursday.

Keep reading...Show less