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BREAKING NEWS

Swedish jobless rate surges

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Swedish jobless rate surges

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Sweden’s unemployment rate surged unexpectedly in April.

It jumped to 9.8 percent of the working population from 9.1 percent in March. Analysts had expected a slight decline.

It was bad news for the centre-right Alliance government, which had promised to create jobs and which faces an election in September.

The Swedish crown fell in value against the euro and the dollar.