In this paper, using a case of unemployed mobilization in Sweden in the 1990s, we examine the interpretive process by which unemployment interests emerge and evolve in public interactions with other political actors, especially unions, and argue that unemployed mobilization episodes cannot be fully understood without attention to interpretive processes. More specifically, we show how unemployed interests during the unemployment crisis in the 1990s initially were aligned with the labor movement at large, later became aligned with unions against the Social Democrats, and eventually gave rise to an independent federation of unemployed groups, which subsequently collapsed.