Swedish paper investigates weak wage growth

Stockholm, Sweden

Lower labour shortages than previously thought may explain weak wage growth in Sweden, says research published by Sveriges Riksbank.

Contrary to conventional wisdom, years of low unemployment have failed to boost wages. In October 2019, the seasonally-adjusted unemployment rate was 6.8%, according to official statistics. But annual wage growth hovers around 2.5%.

Persistently low unemployment boosted the number of companies reporting labour shortages, from just under 13% in the middle of 2013,

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