IDK about Sweden. In the US it seems to pay less, and the jobs are concentrated in different regions than other SWE jobs (which kind of mitigates the lower pay). I did embedded development for a couple years right out of college, then moved to full stack web development. I'm pretty sure the job market in the US is shit for every software development field. I think embedded development is harder to offshore (unless the entire project, electrical engineering and all is offshored). I did find the work very fun; often working in the physical world, and trying to find ways to stay within the CPU/RAM/Flash/Peripheral constraints. I remember once, I had to reverse engineer a piezo-motor controller by scoping the very expensive proprietary dev board, then I reimplemented the control signals by using a microcontroller's audio playback interface.