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Measurements of companies’ opinions on the current situation and the near future show a shift towards more positive expectations, per se, from a very low level.
GDP is expected to decline by 4.8 percent this year and increase by 3.9 percent next.
The government and the coalition parties have introduced a series of measures to mitigate the effects of the crisis. LO now estimates that the central government measures will amount to 165 billion SEK this year, which corresponds to 3.3 percent of GDP. By 2021, the corresponding investments amount to just over SEK 100 billion.
LO: Worrying development
The evolution of the labor market and unemployment are worrying. The largely state-funded system for short-term work still keeps unemployment low. However, unemployment has risen from just over 7 percent to just over 9 percent.
“There is a great risk that unemployment will take hold at a higher level. This has largely happened in previous crises. People with a weaker position in the labor market easily end up in long-term unemployment that is difficult to get out of. Unemployment of 8 to 9 percent runs the risk of becoming the new normal “, write it.
Unemployment is expected to rise to 8.6 percent this year and 9.0 percent in 2021, from 6.8 percent in 2019.
