Sweden Jobless Rate Falls To 7.7%, Lowest In 7 Months

(RTTNews) - The Swedish unemployment rate decreased in July to the lowest level in seven months, figures from Statistics Sweden showed on Friday.

The unadjusted jobless rate dropped to 7.7 percent in July from 9.4 percent in the previous month.

In the same month last year, the unemployment rate was 6.2 percent.

The number of unemployed people declined to 454,000 in July from 566,000 in June.

Young people between the ages of 15 and 24 accounted for 149,000 unemployed people, or 17.7 percent of the workforce, the agency said.

Data showed that the employment rate rose to 71.7 percent from 71.5 percent, representing 5.444 million employed people.