Stockholm Economy: Positive development in Stockholm

Stockholm’s positive development continued in the third quarter of 2016, according to the Stockholm Economy Report. Wages increased and unemployment continued to fall in both Stockholm County and the City of Stockholm compared with the same quarter last year.

- These are very encouraging numbers. Stockholm has an incredible business community with strong growth, which makes us proud and happy. Unemployment continues to fall and we’re also seeing the creation of more jobs, especially in the IT industry, where Stockholm has a strong position compared with many other cities in Europe and globally, says Mayor of Stockholm, Karin Wanngård (S).

In the third quarter, employment in the county saw the greatest increase in the IT industry and in companies in health and social services. The number of available jobs increased in both Stockholm County and the City of Stockholm, with the biggest numerical increase among companies in financial operations and business services. The number of layoffs increased in the county but fell in the city. Unemployment continued to fall in both Stockholm County and the City of Stockholm compared with the same quarter in 2015.

- Stockholm has a stable growth rate, thanks largely to our diversified business community. Growth that is spread across many different industries is an important key for maintaining a competitive edge, while residential construction is crucial for handling the population increase, says Olle Zetterberg, CEO of Stockholm Business Region.

In the last four quarters, the county has gained 36,600 more inhabitants, of which 11,400 are in the city, corresponding with population increases of 2% and 1%, respectively. Residential construction increased in both the county and city compared with the third quarter of 2015. In total, construction has begun on over 17,000 apartments in the county in the last four quarters, of which 6,500 are in the city.

About the report
The report is published by Stockholm Business Region four times per year. The report covers Stockholm County and the City of Stockholm. Statistics are based on information from Statistics Sweden, Sweden's Public Employment Agency and the Swedish Companies Registration Office.

Download the report in its entirety here:
http://www.stockholmbusinessregion.se/en/facts--figures/#facts-about-business

Questions can be addressed to Stefan Frid, Invest Stockholm
stefan.frid@stockholm.se, +46 (0) 8 508 28 016