The Stockholm Economy: Wages bill rises

The Stockholm wages bill is rising despite a falling off in the rate of growth. Sales are increasing somewhat while the number of newly registered businesses is falling and bankruptcies are on the increase. Employment levels continue to rise but, at the same time, so does the number of unemployed.  These trends are revealed in the latest report on The Stockholm Economy.

During the first quarter of 2013 the wages bill rose by 2.5 per cent in the County of Stockholm and by 1.1 per cent in the City of Stockholm, compared with the preceding quarter. At the same time the growth rate fell off. In the rest of Sweden the growth rate was 2.7 per cent.

Sales in the private sector rose in the county and city by 0.1 and 0.3 percent, respectively, when compared with the preceding quarter. In the rest of the country sales fell by 1.5 per cent during the period. The greatest development was recorded by the finance and business services sector.

"Stockholm continues to grow even though the rate of growth is now lower, especially in the city. Sales and employment are growing while new enterprises and the number of vacant positions have decreased. More and more people continue to make the move to Stockholm, a good indication of the city’s power of attraction", says Olof Zetterberg, CEO of Stockholm Business Region.

During the first quarter the number of employed in the County of Stockholm grew by 22 800, of which 15 800 were in the city itself. The unemployment level is 6.2 per cent in both county and city, an increase of 0.4 and 0.3 per cent, respectively, compared with the corresponding quarter from last year. In the rest of the country unemployment was running at 9.0 per cent.

The number of people living in Stockholm continues to grow. During the first quarter the population rose by 8 859 in the county as a whole, of which 4 418 were in the city, compared with the preceding quarter. This represents an increase of 0.4 and 0.5 per cent, respectively.

For more information
Per Holmlund, PR Manager
+46 (0)70-472 80 69, per.holmlund@stockholm.se