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SWEDEN: Some Signs Of Labour Market Stabilisation In PES Data

SWEDEN
SwedenCEEMEABulletMarketsFixed Income BulletsForeign Exchange Bullets

The Swedish unemployment claims rate, produced by the Public Employment Service was steady at 7.0% in December, helping the 3mma tick up to 7.0% from 6.9%. 

  • Although total vacancies rose ~10k from November’s levels, they remain down 16% from a year ago.
  • There was a ~1k rise in employee redundancy notices, but the 3mma fell below 5k for the first time since June 2023.
  • As such, there may be some early evidence that Swedish labour market weakening is beginning to slow. However, further data is required in both the PES and LFS data in the coming months to signal a stabilisation in conditions. December LFS data is due next Friday.

 

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The Swedish unemployment claims rate, produced by the Public Employment Service was steady at 7.0% in December, helping the 3mma tick up to 7.0% from 6.9%. 

  • Although total vacancies rose ~10k from November’s levels, they remain down 16% from a year ago.
  • There was a ~1k rise in employee redundancy notices, but the 3mma fell below 5k for the first time since June 2023.
  • As such, there may be some early evidence that Swedish labour market weakening is beginning to slow. However, further data is required in both the PES and LFS data in the coming months to signal a stabilisation in conditions. December LFS data is due next Friday.

 

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