Sweden’s jobless rate declined in October, figures from Statistics Sweden showed on Thursday.

The jobless rate fell to 7.8 percent in October from 8.3 percent in September. In the same month last year, the unemployment rate was 6.0 percent.

The number of unemployed persons increased by 101,000 to 430,000 in October.

The youth unemployment rate, which is applied to the 15-24 age group, fell to 20.7 percent in October from 21.6 percent in the prior month.

The employment rate increased to 67.1 percent in October from 66.8 percent in the previous month. The number of employed persons was 5.062 million.

On a seasonally adjusted basis, the unemployment rate was 8.9 percent in October.

The material has been provided by InstaForex Company – www.instaforex.com

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