– The development in the labour market continues to look positive. For example, employment continues to increase, and we also see an increase in hours worked, although at a slower pace in recent months, says Charlotta Olofsson, statistician at the Labour Force Surveys at Statistics Sweden.

Labour force

In May 2023, the number of people in the labour force aged 15–74 was 5 753 000. It is an increase of 96 000 compared to the corresponding month last year. The number of women in the labour force was 2 766 000, an increase of 101 000, and the number of men in the labour force was 2 987 000. The relative labour force participation rate amounted to 75.9 percent. Among women it was 74.3 percent, an increase of 2.3 percentage point, and among men 77.4 percent.

Seasonally adjusted and smoothed data shows an increase in both the number and the share of persons in the labour force compared with nearby months. The number of people in the labour force amounted to 5 704 000, corresponding to a labour force participation rate of 75.3 percent.

Employment

In May 2023, there were 5 297 000 employed people aged 15–74, not seasonally adjusted. This is an increase of 122 000 persons compared to May 2022. The number of employed women increased with 107 000 to 2 563 000, and the number of employed men was 2 734 000. The employment rate amounted to 69.9 percent, an increase of 1.2 percentage points. Among women, the employment rate increased with 2.4 percentage point to 68.8 percent, and among men it was 70.9 percent.

For seasonally adjusted and smoothed data, the number of employed people aged 15–74 amounted to 5 294 000 and the employment rate was 69.9 percent. This is an increase in both the number and the share of employed persons compared with recent months.

Employees

In May 2023, there were 4 779 000 employees, not seasonally adjusted, which is an increase of 108 000 compared to May 2022. Among those, 2 423 000 were women which is an increase of 102 000. The number of employees for men were 2 356 000. There were 4 060 000 permanent employees, an increase of 120 000. Among permanent employees the number of women was 2 010 000, an increase of 105 000, and the number of men was 2 050 000. The number of temporary employees amounted to 719 000, of which 414 000 were women and 305 000 were men.

For seasonally adjusted and smoothed data, the number of employees increased compared to nearby months and amounted to 4 772 000. The corresponding figure for permanent employees was 4 045 000 and for temporary employees 727 000. Compared with nearby months, seasonally adjusted and smoothed data shows an increase in the number of permanent employees.

Hours worked

The average number of hours worked in May 2023 amounted to 162.3 million per week, not seasonally adjusted. In calendar adjusted figures, this corresponds to an increase of 3.2 percent compared with May 2022.

According to seasonally adjusted and smoothed data there was an increase in the average number of hours worked compared with nearby months. The number of hours amounted to 159.9 million per week.

Unemployment

In May 2023, there were 456 000 unemployed people aged 15–74 years, not seasonally adjusted. The corresponding unemployment rate amounted to 7.9 percent. The number of unemployed women was 203 000 and the number of unemployed men was 253 000. The unemployment rate for women was 7.3 percent and the unemployment rate for men was 8.5 percent. The number of long-term unemployed (unemployed for at least 27 weeks) was 128 000, a decrease with 37 000. Among the long-term unemployed, 48 000 were women, corresponding to a decrease with 22 000, and 80 000 were men. There were 174 000 unemployed young people aged 15–24, corresponding to an unemployment rate of 24.3 percent. Among unemployed young people, 148 000 persons were full-time students.

For seasonally adjusted and smoothed data the number of unemployed decreased compared with nearby months and amounted to 410 000 among people aged 15-74. The corresponding unemployment rate also decreased and amounted to 7.2 percent. Among young people aged 15–24, seasonally adjusted and smoothed data shows that the number of unemployed amounted to 140 000, corresponding to an unemployment rate of 20.5 percent. This is a decrease in both the number and share of unemployed people in this age group, compared with nearby months.

Unused labour supply

Unemployed people, underemployed people and latent job seekers together comprise the unused labour supply. In May 2023, the unused labour supply averaged 22.1 million hours per week. The unused labour supply corresponds to 553 000 full-time employments with 40-hour work weeks.

2023-07-28, 08:00.