Stockholm Economy: 6,000 more businesses in Stockholm

Positive development continues for business in Stockholm and wages show robust growth in both Stockholm County and the City of Stockholm. In total, 5,997 businesses were launched in the county, 3,502 of which were in the city, while the number of bankruptcies declined. The labor market and number of immigrants have also had positive growth, according to Stockholmskonjunkturen’s first report for 2014.

The labor market is developing positively, with increased employment and more available jobs, while the number of dismissals is falling. Unemployment is decreasing and the trend is positive. Compared with the first quarter of 2013, the number of employed residents has grown by 13,700 people in Stockholm County, 12,100 of whom are in the City of Stockholm. This represents an increase of 1.2 percent in the county and 2.5 percent in the city. For Stockholm County, the increase was greatest in public administration and personal and cultural services. 

Wages increased in the first quarter of 2014 by 3.7 percent in Stockholm County and 3.6 percent in the City of Stockholm compared with the preceding quarter. These figures can be compared with 2.5 percent in the rest of the country.

“Stockholm is experiencing excellent growth. Business is strong, and the fact that more and more people continue to move to Stockholm is also a good sign of the attractiveness of the city,” says Olof Zetterberg, CEO of Stockholm Business Region.

During the first quarter of 2014, the county grew by fully 8,400 residents, 4,000 of whom are in the city. The population of Stockholm County has grown by 35,594 people in the last year, 16,045 of whom are in the City of Stockholm.

During the first quarter of the year, 2.1 million commercial overnight stays were made in Stockholm County, 1.5 million of which were in the City of Stockholm. This is an increase of 10.2 percent in the county and 8.5 percent in the city compared with the equivalent quarter in 2013.