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According to Business Region Gothenburg’s third economic report of the year, it appears that the economy has seen a strong rebound.
But despite news that there is still a recession in the Gothenburg region with rising unemployment, job growth slowed for the first time since the financial crisis. Also, the hotel industry is not doing well.
However, the number of bankruptcies has been surprisingly low, writes BRG in a press release.
According to Business Region Gothenburg, the business community in the Gothenburg region has seen an improvement and the business cycle index has risen from just over 62 to 82.4.
“Being in a difficult seat”
However, it is a bit of the closest range limit that indicates an economic situation that is “weaker than normal”.
– Our indicators show that the regional economy is still in a difficult position. Negative GDP growth in important markets, lower growth in employment and the wage bill, and increased unemployment. Many people have been notified of layoffs and, at the same time, the hotel industry is on its knees, says Peter Warda, an analyst at Business Region Gothenburg in the press release.
Unemployment continues to rise across the country due to the corona pandemic.
8.5 percent unemployed
In August, unemployment was 8.5 percent in the Gothenburg region, corresponding to around 46,700 people who are unemployed or in a labor market policy program.
The corresponding figure for August last year was around 30,300 unemployed.
– The business community in the Gothenburg region has a difficult time ahead and there is still great uncertainty about when demand will return to normal, says Peter Warda, in the press release.
