Stockholm economy: gross pay data showed positive growth figures

The Stockholm economy is still in a boom, but shows signs of cooling off in the first quarter of 2018, compared to the same quarter in 2017. The economy and the population grows, but construction of housing projects has decreased from last year’s strong figures.

Aggregated gross pay data showed positive growth figures both for Stockholm County and the City of Stockholm compared to the same quarter in 2017. Information and communication, and construction where the driving forces behind this development. The number of newly registered businesses decreased, but so did the number of company bankruptcies.

The labour market in Stockholm remains strong but with some indicators showing a weaker development. During the last four quarters the number of persons employed increased by 27 900. Employment in healthcare, construction and finance however decreased. The number of persons given notice increased in both the county and the city. The unemployment rate remained unchanged in both the county and the city. The number of listed positions however decreased during the first quarter in Stockholm county and city.

The number of residents in the county and the city increased by 37 800 and 12 800 respectively during the last four quarters, representing increases by 1,7 percent and 1,4 percent. The number of housing projects started decreased substantially in both the county and the city in comparison to the same quarter last year. 

- It is pleasing to see that the Stockholm economy is still booming. Regarding the decrease in construction it's worth mentioning that housing construction has been extraordinarily high during recent years, says Olle Zetterberg, CEO Stockholm Business Region. 

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, the Swedish Public Employment Service and the Swedish Companies Registration Office.

For questions, contact Stefan Frid, Invest Stockholm, stefan.frid@stockholm.se, +46 (0) 8 508 28 016