Forex News

The unemployment rate in Sweden reached a 10-month high

The unemployment rate in Sweden unexpectedly rose in August to its highest level in 10 months, according to preliminary data from Statistics Sweden.

The seasonally adjusted unemployment rate rose to 6.6 percent from 6.4 percent in July. Economists had expected the rate to drop to 6.3 percent.

The figure was the highest since October 2017, when it was at the same level.

Without taking into account the adjustment for the season, the unemployment rate rose to 6.1 percent from 6 percent in July.

In August, the number of unemployed was 337,000, while the number of people employed was 5.16 million.