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COUNTRY SEARCH:
Sweden
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Sweden
Sweden, with a GDP of $593 billion, ranks as the 24th largest economy globally. Its key industries include iron and steel, precision equipment, and motor vehicles. With a moderate unemployment rate of 7.6%, Sweden's labor market is stable, though potentially impacted by a growing dependency ratio. The country hosts a medium number of recruitment agencies.
Sweden'S
AGENCY LANDSCAPE
2K
Agencies operating in Sweden
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
16-22%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Sweden'S
FEATURED AGENCIES
Adecco Group
Nordic Jobs Worldwide
Get featured here
Sweden'S
GROSS DOMESTIC PRODUCT (GDP) RATING
24
WORLD RANKED
Sweden ranks 24th in the world by current economic output
$593B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
13
EMEA RANKED
Sweden is the 13th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Sweden's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Sweden'S
CURRENCY AND CODE
Skr
Country currency
SWE
Country ISO code
Sweden'S
INFLATION RATE
2.6%
CURRENT RATE
▼3.3% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Sweden'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Sweden'S
LABOUR STATISTICS
10M
POPULATION
With a population of 10,379,295, Sweden is a medium sized country by global standards. Sweden's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Sweden is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Sweden's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Sweden'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Sweden'S
UNEMPLOYMENT RATE
7.6%
CURRENT PERCENTAGE
▲0.19% INCREASE
Sweden has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a small increase in unemployment, suggesting continued economic stability, with a slight dip in job availability
Sweden'S
TOP PERFORMING COMPANIES AND INDUSTRIES
Top performing companies
Securitas AB
Ericsson
H&M
Top industries
Iron and steel
Wood pulp and paper products
Motor vehicles
Sweden'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
70
/
63
Male | Female
In Sweden there is a low gap in participation rates between males and females, indicating a relatively balanced workforce particpation often reflective of strong gender equality policies or cultural norms supportive of equal gender parity.
Sweden'S
WORKING LIFE
$48K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$4K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Sweden'S
WORKING LIFE
12DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard workweek is Monday to Friday, 8 hours daily, 40 hours weekly. Overtime pay isn't required and may be in salary. Agreement-specified hours beyond regular are overtime. Monthly and annual overtime caps are 50 and 150 hours, with a 168% hourly rate for extras.
Sweden'S
TOP BENEFITS
89DAYS
Maternity leave
In Sweden, parents share 480 days of parental leave. For maternity, 60 days pre-birth and 29 post-birth are mandatory. Paternity gets 10 extra days. Pay is nearly 80% of salary for 390 days, then SEK 180/day.
90DAYS
Sick leave
Employees get paid sick leave for 90 days, with the employer covering 80% of the base salary for the first 14 days. Days 15-90 are paid by Social Insurance at 25-80%, with a maximum of SEK 810/day. There's an unpaid qualifying period at the start.
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