credit crunch

Bank Says 10% Out of Work by 2010

Analysts at Sweden’s Handelsbanken are predicting very tough time ahead for Sweden.

Their figures predict one in ten Swedes will be unemployed by 2010.

Although they do say that by 2010 the Swedish economy will be growing again, and that the rate of inflation will keep falling.

These figures are much worse than those of the Swedish central bank.

Chief Handelsbanken Economist Jan Häggström says that households will have to tighten their belts during this period of unemployment.