Stockholm Chamber of Commerce - Swexit Could Mean 73 000 Less Jobs

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Swexit Could Mean 73 000 Less Jobs

To leave the EU could lead to 73 000 less jobs by the year 2031, while reducing GDP with four percent, and weakening the purchasing power of households with approximately 16 600 SEK per household (measured in prices of 2017). This is shown in a study conducted by Oxford Economics, commissioned by the Stockholm Chamber of Commerce.

One of the key strategic proposals for Sweden, discussed during the election-campaign, is that of leaving the EU. The proposal has been labeled “the most dangerously discussed”. Meanwhile, there is a general lack of knowledge of the economic consequences a so called “swexit” would entail.

For this reason, the Stockholm Chamber has commissioned Oxford Economics to conduct a study regarding the effects of a Swexit.

- One must understand that a “swexit” could cost Sweden jobs, as well as a weakening growth. That is why the proposal to leave the EU is dangerous. It would hit negatively on our prosperity, says Andreas Hatzigeorgiou, Chief economist at the Stockholm Chamber.

By simulating the effects of a scenario where Sweden remains in the EU, as opposed to a swexit-scenario, it is concluded that:

- That is why it is crucial for the next government to present a plan with concrete actions to anchor Sweden in the EU and establish confidence of EU in Sweden, Andreas Hatzigeorgiou says.

- For a small export-dependent country like Sweden, it is important to retain and develop the internal market of the EU. In addition, both businesses as well as individuals have great benefit to enter into a greater labor market region, Andreas Hatzigeorgiou says.  

Download and read the whole report, conducted by Oxford Economics The Macroeconomic Implications of Sweden's Depature from the EU

Also read the debate-article on DN ”Sverige förlorar 73 000 och 4% BNP vid ett EU-utträde

Photo by Annie Spratt on Unsplash

Swedish version