Situation on the labor market remains weaker.

The labor market continues to face challenges, with persistent weaknesses affecting employment trends. Economic shifts have contributed to a fragile job market, impacting both job seekers and employers. This summary explores the current state of the labor market, highlighting key factors contributing to its vulnerability and discussing potential strategies for improvement. Stay informed on the ongoing issues and explore possible solutions to strengthen the labor market in the future.

In April 2024, the non-seasonally adjusted number of employed individuals was 5,227,000. The total weekly hours worked averaged 165.4 million. The unemployed population rose by 87,000, reaching 513,000, corresponding to an unemployment rate of 8.9 percent, an increase of 1.4 percentage points. Seasonally adjusted and smoothed data indicate a rise in the employment rate, along with an increase in both the number of unemployed individuals and the unemployment rate, which stood at 8.4 percent.

The change between April 2023 and April 2024 for the labor force and employed women might be slightly overestimated, as both were at relatively low levels in April 2023.

"The situation in the labor market remains subdued, with no major changes in April," says Louise Stener, statistician at the Labor Force Surveys at Statistics Sweden.

Labour force

In April 2024, the labor force aged 15–74 totaled 5,740,000, not seasonally adjusted, marking an increase of 90,000 compared to the same month last year. The number of women in the labor force rose by 87,000 to 2,739,000, while the number of men was 3,001,000. The labor force participation rate increased by 1.1 percentage points to 75.6 percent. For women, it was 73.4 percent, up by 2.2 percentage points, and for men, it was 77.8 percent.

Seasonally adjusted and smoothed data show the labor force at 5,738,000, corresponding to a participation rate of 75.6 percent, an increase compared to recent months.

Employment

In April 2024, there were 5,227,000 employed people aged 15–74, not seasonally adjusted. Among them, 2,501,000 were women and 2,727,000 were men. The overall employment rate was 68.9 percent, with the rate for women at 67.0 percent and for men at 70.6 percent.

Seasonally adjusted and smoothed data indicate that the number of employed persons aged 15–74 was 5,256,000, corresponding to an employment rate of 69.2 percent.

Employees

In April 2024, there were 4,748,000 employees, based on not seasonally adjusted data. Of these, 2,348,000 were women and 2,400,000 were men. The number of permanent employees increased by 88,000, totaling 4,116,000. Permanent female employees numbered 2,026,000, an increase of 99,000, while permanent male employees were 2,089,000. The number of temporary employees was 632,000, with 322,000 women, a decrease of 50,000, and 311,000 men.

Seasonally adjusted and smoothed data show 4,750,000 employees, with 4,097,000 permanent and 653,000 temporary employees. Compared to recent months, there was an increase in permanent employees and a decrease in temporary employees.

Hours worked

In April 2024, the average total hours worked per week amounted to 165.4 million, based on not seasonally adjusted data.

Seasonally adjusted and smoothed data indicate an increase in the number of hours worked compared to recent months, with the average number of hours worked per week being 158.6 million.

Unemployment

In April 2024, the number of unemployed individuals aged 15–74 reached 513,000, not seasonally adjusted, an increase of 87,000 compared to the same month the previous year. The unemployment rate rose by 1.4 percentage points to 8.9 percent. Among the unemployed, 238,000 were women and 275,000 were men, with an increase of 51,000 for men. The unemployment rate for women was 8.7 percent, and for men, it was 9.2 percent, up by 1.7 percentage points. Long-term unemployment (unemployed for at least 27 weeks) affected 155,000 individuals, including 65,000 women and 90,000 men.

Unemployment among young people aged 15–24 was 188,000, an increase of 44,000, resulting in a youth unemployment rate of 26.8 percent. Among these, 131,000 were full-time students.

Seasonally adjusted and smoothed data show that the number of unemployed individuals aged 15-74 increased to 481,000, with an unemployment rate of 8.4 percent. Among young people aged 15–24, the number of unemployed was 167,000, and the unemployment rate was 24.2 percent. This represents an increase in both the number of unemployed individuals and the unemployment rate among young people compared to recent months.

Unused labour supply

Unemployed people, underemployed people, and latent job seekers together constitute the unused labor supply. In April 2024, the unused labor supply averaged 23.0 million hours per week, an increase of 2.3 million hours compared to the same month the previous year. This unused labor supply equates to 575,000 full-time jobs, assuming a 40-hour work week.

Employment rate, persons aged 15–74

‍Employment rate by sex, smoothed and seasonally adjusted data, persons aged 15–74

Unemployment rate, persons aged 15–74

Unemployment rate by sex, smoothed and seasonally adjusted data, persons aged 15–74

Source: SCB