Lena Hagman Analyzes Economic Trends for Swedish Unions
As chief economist for the Swedish Confederation of Professional Employees, TCO, Lena Hagman analyzes trends in Sweden and the global economy as they affect member unions pressing for reforms in a labor market facing structural changes and the pressures of globalization.
“One of the biggest issues the TCO unions now face in Sweden is, in my view, the challenges of structural change and how to meet the needs of adjustment to globalization,” she said in response to questions sent via e-mail. TCO member unions are receptive to change, she said, believing that Sweden can maintain high employment and remain competitive.
TCO is the central organization for 17 trade unions representing workers in the public sector and private industries, including “white collar” employees, such as engineers, nurses, journalists, staff within banking and finance, policemen, actors etc. There are almost 1.3 million members in the TCO-confederation, about 30 percent of Sweden’s 4.3 million total workforce. In all, the TCO staff members number about 60 and most of them are experts in different fields, she said.
Member of Shadow Monetary Policy Group
The labor economist also closely follows Swedish monetary policy as a member of the Shadow Board for the Swedish central bank, the Riksbank. The board meets one week before the Riksbank’s policymaking board to discuss key issues and vote on monetary policy actions. The Shadow Board was created by Sweden’s largest business daily business newspaper Dagens Industri. “It’s a demanding and challenging assignment that I truly enjoy,” Lena said.
Lena joined NABE last fall in part to further her understanding of “structural change and decision-making within companies in order to make better forecasts.” She attended NABE’s annual meeting in Boston and found the sessions “very useful for my work.”
Working with TCO member unions to analyze structural change, Lena can “point out the needs, and also signal warning signs, if the development is taking a route which we think leads away from the aim of maintaining strong competitiveness in combination with high welfare and good living standards.” She added that she does not take part directly in lobbying efforts, but rather provides unions with “analysis and proposals as basis for policy decisions. I have also taken part in discussions with union representatives on new proposals for how more jobs could be created in Sweden, for example.”
Served at Statistics Sweden
Before becoming TCO’s chief economist in April 2005, Lena served as head of economic analysis at Statistics Sweden, the central government agency for official data.
“We were inspired by other statistical agencies abroad, which already had developed certain analysis within economic statistics, e.g. in Canada, Australia, Great Britain,” she said.
“Still, I consider myself as a user of statistics, and as a macro economist,” Lena said. Before taking her current job with TCO, she was responsible for forecasting the Swedish economy at the Federation of Swedish Industries from the mid 90s until 2000. Before that she worked at the Ministry of Finance for some years as a macro economist, also on forecasting.
Lena earned a Bachelor of Science in Economics and Political Science from Stockholm University. She also studied journalism and statistics. “I was lucky to get my first job as an economist quite fast after getting my university degree, back in the mid 80s,” she said.
Speaking of her work as TCO chief economist, Lena said her job “offers great opportunity for reaching out in public and to policymakers with messages on the state and needs of the economy. I feel very fortunate to get this chance, since I think I have a lot to put forward. I also enjoy my work to the fullest since I deal with questions that are of greatest interest to me. I would be more than glad if I could `make a difference’ and contribute to better policy decisions.”
Career Advice
And what is her advice to students who have chosen economics as a career? “Never be afraid of making their own analysis and find answers to new phenomena. Be open to what other economists have found, but try to draw your own conclusions from the information you get. Then you will have something of value to come forward with, and you will grow in your profession.”