Sweden jobless rate rises in August

Sweden's jobless rate increased in August, figures from Statistics Sweden showed on Tuesday.

The jobless rate rose to a seasonally adjusted 8.5 per cent in August from 9.8 per cent in May.

The number of unemployed persons increased to 478,500 in August from 454,300 in the previous month.

The youth unemployment rate, which is applied to the 15-24 age group, fell to 21.1 per cent in August from 17.5 per cent in the prior month.

The employment rate increased to 43.4 per cent in August from 56.3 per cent in July.

The number of employed persons was 4.962 million. On an unadjusted basis, the unemployment rate was 8.9 per cent in August.