FX.co ★ Sweden Jobless Rate Falls To 8.9%

In April, Sweden's unemployment rate experienced a decline following an increase the previous month, according to data released by Statistics Sweden on Wednesday.

The unadjusted unemployment rate fell to 8.9 percent in April, down from March's nine-month high of 9.2 percent. In comparison, the unemployment rate for the same month last year was 7.5 percent.

The number of unemployed individuals decreased to 513,000 in April, compared to 525,000 in March. Notably, young people aged 15 to 24 accounted for 188,000 of the unemployed, equating to 26.8 percent of the workforce, according to the agency.

The data also revealed an increase in the employment rate, rising to 68.9 percent from the previous month's 68.3 percent. This translates to 5.227 million people being employed.