Here below we have the data for Sweden. As one can see, the 3-month moving average for the Swedish unemployment rate rose to 7.3% now while it was just 6.3% in April of this year. Obviously, the structure of the Swedish economy is extremely different from the US, being a small open economy at Europe's periphery. The Swedish labor market is also less flexible than its US counterpart, but this actually makes the recent rise even more worrying. Finally, there could be data and measurement issues and unemployment figures might fluctuate more from month to month than in the US.
While for these and other reasons, the Sahm rule might not work that well for the Swedish economy, the recent rise in unemployment is obviously very concerning. The economic slowdown in Europe is surely weighing on the domestic economy, since Sweden is similar to Germany a big exporting nation of industrial goods. Therefore the economy might already be in a recession as of this quarter or will enter a recession any time soon. Consequently, the Riksbank should adjust monetary policy accordingly and probably resume QE, given that interest rates are still stuck at the ELB.