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Now unemployment is rising among young people

2019-10-14T08:19:20.952Z

Youth unemployment is now rising for the first time since 2013 - a clear sign that the economy is now cooling down. The number of notice of termination is also increasing, but shows no alarming signs yet.



Total unemployment began to rise this summer. In September, 353,000 people were registered as unemployed at the intermediaries, which is 11,000 more than the same month last year.

- In early 2019, unemployment was still declining but at an ever-slower rate. In July, we saw unemployment turn upward, Anders Ljungberg, unit manager at the analysis department at the Employment Service, told TT.

Pretty modest

The new thing now is that youth unemployment has also turned up, albeit quite modestly. At the end of September, 49,000, or 9.1 percent of the workforce, aged 18-24 were enrolled as unemployed, 700 more in one year.

- This is the first time since 2013 that we have seen unemployment among young people rise, says Anders Ljungberg.

Young people with insecure employment are often the ones who get kicked first when companies pull down. But the variation in the country is large, it decreases in ten counties and increases in the same number. The highest unemployment rate among young people is found in Gävleborg, 14.3 percent, while Stockholm County has the lowest, 6.5 percent.

The largest increase in youth unemployment occurred in Södermanland. Last year, 1,803 young people were unemployed in Södermanland. This year the number was 2,104, which represents an increase of 16.7 percent.

- Now efforts are needed to motivate young people to study. Vocationally oriented upper secondary education often leads to jobs, says Anders Ljungberg.

Worse times

The worse economic times are also starting to become noticeable among the layoffs, albeit not as much as with other players where the TRR and TSL restructuring organizations have pointed to almost double the number of layoffs.

In September, according to the Swedish Employment Service, 3,900 people were notified roughly in line with the average for the past twelve months, but clearly higher than last year's September figure of 2,800.

Source: svt

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