Swedish Jobless Rate Falls To 8.0%

Sweden's jobless rate decreased further in July to the lowest level in seven months, figures from Statistics Sweden showed on Friday.

The unadjusted unemployment rate dropped to 8.0 percent in July from 9.4 percent in June. In the same month last year, the jobless rate was 7.7 percent.

The number of unemployed decreased to 474,000 persons in July from 559,000 persons in the prior month.

The youth unemployment rate, which is applied to the 15-24 age group, came in at 17.3 percent in July.

Meanwhile, the employment rate rose to 71.3 percent in July from 70.9 percent in the prior month.

On a seasonally adjusted basis, the unemployment rate was 8.9 percent versus 8.3 percent in June.

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