STOCKHOLM: Sweden's unemployment rate dropped to 7.9% in February from 8.2% the previous month, the official statistics bureau said Thursday, as the economy continues its rapid rise from recession.
Some 392,000 were out of work, 55,000 fewer than in February 2010, Statistics Sweden reported, continuing the recent downward trend.
Earlier this month the Swedish government raised its economic growth forecast for the year and said unemployment would shrink significantly, following the recent publication of strong statistics.
Finance Minister Anders Borg now expects Sweden's gross domestic product this year to grow 4.8 percent, up from its previous estimate of 3.7 percent.
After suffering a deep recession during the global financial crisis, with its GDP shrinking 5.3 percent in 2009, Sweden's economy has rapidly recovered, posting 5.5 percent growth in 2010.
After hitting a peak of 8.4 percent in 2010, unemployment is expected to sink to 7.4 percent this year, according to government estimates.
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