Sweden Jobless Rate Falls To 8.5%

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

The unadjusted unemployment rate dropped to 8.5 percent in March from 9.4 percent in February.

In the same month last year, the jobless rate was 9.2 percent.

The number of unemployed decreased to 486,000 persons in March from 533,000 persons in February.

The youth unemployment rate, which is applied to the 15-24 age group, came in at 23.6 percent in March.

Meanwhile, the employment rate rose to 68.7 percent in March from 67.7 percent in the prior month.

On a seasonally adjusted basis, the unemployment rate was 8.1 percent in March versus 8.9 percent a month ago.