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Economy of Sweden


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ximately 15% compared to 10% in Belgium, 30% in Ireland, and 50% in United States. Public sector spending amounts to 53% of the GDP. State and municipal employees total around a third of the workforce, much more than in most Western countries. Only Denmark has a larger public sector (38% of Danish workforce). Spending on transfers is also high.

Eighty percent of the workforce is organised in trade-unions which also have the right to elect two representatives to the board in all Swedish companies with more than 25 employees. Sweden has a relatively high amount of sick leave per worker in OECD: the average worker loses 24 days due to sickness. In December 2008, the number employed in age group 16–64 was 75.0%. The employment tendency was very strong in 2007. The positive trend continued during the first half of 2008, but the rate of increase slackened. According to Statistics Sweden, the unemployment rate in June 2012 was at 8.8%. Unemployment among youth (aged 24 or less) is 24.2%, making Sweden the OECD country with the highest ratio of youth unemployment versus unemployment in general.

Science Today

Combined, the public and the private sector in Sweden allocate over 3.5% of GDP to research & development (R&D) per year, making Sweden's investment in R&D as a percentage of GDP the second-highest in the world. For several decades the Swedish government has prioritized scientific and R&D activities. As a percentage of GDP, the Swedish government spends the most of any nation on research and development. Sweden tops other European countries in the number of published scientific works per capita.

Science and Technology

Tycho Brahe, born in 1546 in an area of present-day Sweden which was then Denmark, made the careful astronomic observations upon which Kepler proved and quantified the heliocentric Copernican solar system.

In the 18th century Sweden's scientific revolution took off. Previously,
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