Stockholm’s economy continues to be strong and most economic indicators are pointing in the right direction. Private sector wages are increasing broadly, with business services, construction and information and communication as the main driving forces.

Although the number of bankruptcies is rising, enterprise in Stockholm is strengthened by the launch of 11 new startups for every bankruptcy in the county. The number of employed residents in the county has increased by 35,300 or 3 percent in the last four quarters, with only manufacturing and commerce bucking the trend with fewer employees. The number of redundancies and unemployment fell in both absolute figures and in relation to the workforce compared with the same quarter in 2016.

“Development in Stockholm is incredibly strong right now, about which I am both pleased and proud. We have a strong business community and a highly competent workforce in several different areas. Meanwhile, we’ve gained significant momentum with housing construction, and we’re currently building more than in the record years of the 1960s. Solving the housing shortage and, especially, building more rental homes will be absolutely crucial for retaining Stockholm’s competitiveness in the long term,” says Mayor of the City of Stockholm, Karin Wanngård (S).

In the last four quarters, the number of residents has grown by 38,600 people in Stockholm County, of which 13,300 are in the city, an increase of 1.7 and 1.4 percent, respectively. Housing construction fell in both the county and city compared with the first quarter of 2016, but has increased by over 8 percent in the last four quarters.

“Stockholm continues to make excellent progress and is well equipped for the future. The housing shortage is still the greatest obstacle to growth,” says Olle Zetterberg, CEO of Stockholm Business Region.

Source: press.stockholmbusinessregion.se
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