"Swedish government today made a decision about a new law that is called short-time-work, or so-called crisis contract
The recommendation about short working time means that in a crisis time where the general business condition worsened greatly, people get a temporary lowered salary and lowered working hours, combined with government taking 1/3 of the cost for the involved company
The purpose is to give support to avoid large scale layoff of employee..."
http://www.gp.se/ekonomi/1.1404677-regeringen-beslutar-om-krisavtal-----------------------------------------------------------------
Currently the swedish jobless rate is 8.5%, and many young people can not find a job. Several of my colleagues have problems with their kids, and they typically send them to other countries like Australia/China after they gradudated from high school
At least the government has realized that mass scale layoff will create a self supported downward spiral. Sweden is a small country and have about 4 million working, the effect is very quick to be felt
I always think that the right solution for today's jobless problem is to continuously reduce working hours, let's see if sweden can create a first example of full employment through lower working hours
