MNI NORGES WATCH: Soft Krone Complicates 2024 Cut Signalling

CANADA RAISING INSURED MORTGAGE CEILING TO CAD1.5M FROM CAD1M

FREELAND SAYS CANADA SOFT LANDING APPEARS TO BE IN SIGHT

MNI BRIEF: China CPI Expected To Rise Moderately - NBS

MNI BRIEF: China Aug Output, Investment Hit Lowest Of The Year

CHINA AUG INDUSTRIAL OUTPUT +4.5% Y/Y VS MEDIAN +4.6% Y/Y: NBS

EZ/UK Bond Supply Calendar: Latvia Syndi; UK, FI Due Tuesday

MNI: CANADIAN JUL MANUFACTURING SALES +1.4% MOM

MNI: US NY FED EMPIRE STATE MFG INDEX 11.5 SEP

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Unemployment Rate Steady As Labour Force Expands

SWEDEN
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

The Swedish LFS SA unemployment rate held at 8.2% in June. The three analysts that submitted a forecast to Bloomberg had forecasted readings of between 8.4-8.6%.

  • The unemployment rate thus averaged 8.3% in Q2, below the Riksbank’s June projection of 8.5%.
  • However, the steadiness in the unemployment rate (or at least, lack of increase), reflected a rise in the labour force alongside a tick up in the number of unemployed persons.
  • Employment growth was 0.1% 3m/3m (vs -0.2% prior), bringing the 3m average of the employment rate to 69.2%. That’s above the Riksbank’s June projection of 68.9%.
  • Overall, this data isn’t enough to dissuade the Riksbank from cutting rates in August. The same can be said for Monday’s Q2 GDP indicator (which is often heavily revised, and probably shouldn’t be taken too seriously in any context).

145 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Swedish LFS SA unemployment rate held at 8.2% in June. The three analysts that submitted a forecast to Bloomberg had forecasted readings of between 8.4-8.6%.

  • The unemployment rate thus averaged 8.3% in Q2, below the Riksbank’s June projection of 8.5%.
  • However, the steadiness in the unemployment rate (or at least, lack of increase), reflected a rise in the labour force alongside a tick up in the number of unemployed persons.
  • Employment growth was 0.1% 3m/3m (vs -0.2% prior), bringing the 3m average of the employment rate to 69.2%. That’s above the Riksbank’s June projection of 68.9%.
  • Overall, this data isn’t enough to dissuade the Riksbank from cutting rates in August. The same can be said for Monday’s Q2 GDP indicator (which is often heavily revised, and probably shouldn’t be taken too seriously in any context).