Core Facts
- Population: 9.9M
- GDP: USD 496 billion
- GDP per head: USD 55,164
- Workforce: 5M
- Unemployment (2017): 6.8%
- Average high skilled monthly wages (2017): USD 3,893
Regulatory
- Government debt: 41.6% of GDP
- Personal income tax: 57%
- Corporation tax: 22%
- World corruption ranking 2016: 4th Transparency International
- Ease of doing business ranking: 9th Business Freedom Index
- Labour law: ILO Conventions ratified
- Data protection: Member of the EU and so recognised as having adequate protection
Sweden is a highly regulated labour market applying in its own way the Nordic labour model. Employment contracts are governed by extensive mandatory legislation and by many collective agreements. The framework of regulation can be divided into (1) collective bargaining (2) individual employment (3) dispute resolution (4) the working environment and (5) the labour market. Most workplaces have a collective agreement covering wages, working conditions, benefits and insurance. Approximately ninety per cent of workers are covered by these agreements. The model relies upon strong unions and generally supportive employers. Seventy per cent of workers belong to unions.
The regime has for many years been weighted in favour of employee protection. The main principle is that contract terms less beneficial than specified by law are invalid. Recently, there have been moves to shift the balance slightly towards the employer particularly in the sphere of terminations. Nevertheless the global employer must expect a complex regulatory world. In return, there is a productive and generally harmonious working environment.
Related News
SWEDEN : Annual Update : Expected Changes to Labour Law 2023EU Directive on Transparency and Predictable Working Conditions
SWEDEN : Annual Update : Expected Changes to Labour Law 2022
SWEDEN : Annual Update : Expected Changes to Labour Law 2021
Brexit – No Deal – What to do now
SWEDEN : Annual Update : Expected Labour Law Changes 2019
UPDATE : European Union : Revised Posting of Workers Directive
SWEDEN : Annual Update : Expected Labour Law Changes 2018
iGlobal Strategic Guidance Series 2: EU GDPR
EU Data protection and new technology
EU Citizens: UK Proposal on Rights
EU Pillar of Social Rights
EU General Data Protection Regulation
European Court Allows Ban on Religious Symbols and Clothing
SWEDEN: Annual Update – Expected Labour Law Changes in 2017
Harmonising EU Data Protection rules
SWEDEN: Annual Update – Expected labour law changes in 2016