Sweden’s job market is struggling, with unemployment reaching its highest level since early 2022. By the end of 2024, nearly 377.000 people were without jobs, according to Arbetsförmedlingen (Swedish Public Employment Service). This marks an increase of over 27.000 unemployed compared to the previous year.
Why Unemployment Is Rising
Sweden’s economy slowed down significantly last year, and this affected the job market. Unemployment rose from 6.6% to 7.1% in just a year, making it harder for both families and businesses to manage.
“Households have been spending less money than we expected,” explained Eva Samakovlis, Director of Analysis at Arbetsförmedlingen. Fewer job openings were available, with an average of 100.000 jobs posted monthly in 2024 compared to 150.000 the year before. This drop in new job listings shows how tough the situation has become.
A Positive Change on the Horizon
Despite these challenges, there are signs things might improve. “We’re starting to see some hope,” said Samakovlis. Employers are feeling more optimistic, and as the economy recovers, more jobs are expected to open up. However, this recovery might take some time.
Arbetsförmedlingen predicts that unemployment will keep rising during the first few months of 2025. But as the economy starts to grow again, the situation should stabilize.
“We think unemployment will stop increasing this spring and start going down slowly in the fall,” said Samakovlis.
