Labor market

Big jump in lay offs in November

New statistics from the Swedish labor office show that unemployment is on the rise and lay offs during the month of November doubled compared to last year.

Nearly 6,500 people were laid off in November. Over 370,000 Swedes were unemployed, which is more than the month of October, but less than the previous year.

"It's getting confirmed every month now, a little bit more clear every month, that's it's starting to turn downwards," Clas Olsson, an analyst at the labor office says. "We've seen signs earlier but now it's becoming even clearer."

The November statistics also show that fewer people found work, employers did not announce as many jobs, and that youth unemployment has again begun to rise.