Wednesday, May 26, 2010

Sweden - OECD Economic Outlook 87 Country Summary

From OECD: Sweden - Economic Outlook 87 Country Summary

The Swedish economy experienced a severe recession in 2008 09. Although activity is regaining momentum, economic slack is now substantial and unemployment will remain high for some time.

While policy interest rates are set to start rising fairly soon, the monetary stance ought to remain stimulative for some time. Fiscal policy is supportive of demand in 2010 and, together with specific measures to limit long term unemployment, is mitigating the rise in unemployment. However, once the recovery becomes firmly established, fiscal discipline will be needed in order to reach the medium-term budgetary surplus target.
Download the Excel file

Production and employment during crisis decreased more in Sweden than EU

From Eurostat Statistics in Focus: The economic crisis in the non-financial business economy – where was it most heavily felt? - Issue number 21/2010

This publication presents an analysis of short-term business statistics identifying the contributions of the individual Member States to the development of output, output prices and employment at the level of EU-27, during the most recent economic crisis. In a similar way, the analysis identifies those economic activities (NACE rev 2 divisions) which had the greatest impact on the overall developments of total industry and non-financial services.

Wednesday, May 19, 2010

OECD - Taxing Wages: Country note for Sweden

OECD - Taxing Wages: Country note for Sweden

Sweden has strongly decreased the tax and social security burden over the past ten years. Taxpayers at high earnings, however, continue to take home less than 50% of what they cost to their employer (“total labour costs”). The difference to other OECD countries is smallest for singles at average full-time earnings: there the average tax wedge (income taxes plus employee and employer social security contributions minus cash transfers as a percentage of total labour costs) in Sweden is 6.7 percentage points higher than for the OECD average. The tax wedge for lone parents at 67% of the average wage with 2 children, however, continues to be high compared to other OECD countries.
Average Tax Wedge for different wage levels and household types
in % of total labour costs
The tax wedge strongly decreased for all families with about 7 percentage points as a result of the tax cuts implemented over the past 10 years; only single taxpayers at higher earnings faced a smaller decrease in the tax wedge of ‘only’ 5 percentage points.

In 2009, the overall tax burden decreased for all types of households analysed in the Taxing Wages Report. For a single employee with an average wage the average tax wedge narrowed by 1.6 percentage points to 43.2% of total labour costs. A married couple with 2 children, one spouse earning the average wage, the other earning a third of that, saw their tax wedge decrease also by 1.6 percentage points to 37.2% of labour costs.

The tax wedge in Taxing Wages is calculated on the basis of the average gross wage earnings of full-time employees in the private sector, including employees at management level. The corresponding 2009 annual average gross wage in Sweden was SEK 356 725.

More Information
A detailed description of the Swedish tax system and the calculations for the tax wedge in Sweden is included in the Taxing Wages Report.

Monday, May 17, 2010

Impact of the crisis on unemployment so far less pronounced in the EU than in the US

From Eurostat Statistics in Focus: Impact of the crisis on unemployment so far less pronounced in the EU than in the US - Issue number 20/2010

Latest developments appear more favourable in the US

The unemployment rate in the European Union has risen sharply since the first quarter of 2008 as a result of the economic crisis. However, the increase has been much smaller than in the United States, where the rate has overtaken that of the EU despite having been much lower at the start of the crisis. Unemployment varies greatly across both Europe and the US. Recent data from the US Current Population Survey and from the European Labour Force Survey (LFS) (fourth quarter of 2009) are used to analyse unemployment in the two areas by gender, educational level and duration. The data are supplemented by seasonally adjusted monthly data. This publication is the fourth in a series analysing the effects of the current economic crisis on the labour market.

Tuesday, May 4, 2010

Sweden: Asylum applicants stable 2008-2009 and high proportion subsidary protection

This quarterly publication gives an insight into recent developments in international protection including applicants for asylum and decisions on asylum applications. These data are supplied to Eurostat by the national Ministries of Interior and related official agencies. Most of the statistics presented in this Data in Focus are collected under the new regulatory framework of Regulation 862/2007 on statistics on migration and international protection. 

Monday, May 3, 2010

Sweden shows small decrease in rail freight volume 2007-2008

From Eurostat Statistics in Focus: Goods transport by rail declining by the end of 2008 
Rail freight transport in Europe
The publication presents the latest annual figures and the developments between 2008 and 2007 on freight transport by rail for all EU countries, EFTA and Candidate countries. The most up to date quarterly data – up to the third quarter of 2009 – have been included and analysed in the publication as well. 
The drop in transport performance between 2007 and 2008 as a result of the crisis was visible in the majority of the Member States. In most of them, the crisis either slowed down or reversed the positive trend of the previous years.