Sweden Jobless Rate Falls To 7.8%

(RTTNews) - Sweden's jobless rate decreased in October to the lowest level in three months, figures from Statistics Sweden showed on Friday.

The unadjusted unemployment rate dropped to 7.8 percent in October from 8.2 percent in September. In the same month last year, the jobless rate was 7.4 percent.

The number of unemployed fell to 438,000 persons in October from 468,000 persons in September.

The youth unemployment rate, which is applied to the 15-24 age group, came in at 21.3 percent in October.

Meanwhile, the employment rate dropped to 68.2 percent in October from 68.6 percent in the prior month.

On a seasonally adjusted basis, the unemployment rate was 8.4 percent in October versus 8.6 percent a month ago.