In this paper, the mean square (MS) stability and exponential mean square (EMS) stability of multivariable switched stochastic systems are investigated. Based on the concept of the average dwell-time and the ratio of the total time running on all unstable subsystems to the total time running on all stable subsystems, some sufficient conditions are given to ensure the MS stability and EMS stability of the multi-variable switched stochastic systems involved. Further, for the switched stochastic control systems with all subsystems controllable or stabilizable, EMS stabilization controls and sufficient conditions on EMS stabilization are presented, and the convergent rates of the closed-loop systems are obtained.