Clients in a TE Office in Pasila, Helsinki, on 16 March 2023. Statistics Finland’s latest data indicate that the ranks of the unemployed grew by 28,000 year-on-year to roughly 190,000 in October 2023. (Heikki Saukkomaa – Lehtikuva)
- Next Article Finnish government’s tougher border measures blocked by deputy chancellor of justice
THE EMPLOYMENT SITUATION in Finland has worsened in the past year.
Statistics Finland on Tuesday published the results of its most recent labour force survey, revealing that the number of 15–74-year-old people in employment decreased by 31,000 year-on-year to around 2,605,000 in October. The number of employed men decreased by 27,000 and that of women by 4,000 compared with October 2022.
The employed accounted for 77.4 per cent of 20–64-year-olds in the country, marking a drop of 1.5 percentage points from the previous year.
The ranks of the unemployed grew by 28,000 to roughly 190,000 between October 2022 and October 2023.
With the economic recession set hamper the employment situation until interest rates start declining, the worst is yet to come for the employment situation, Juhana Brotherus, the chief economist at Suomen Yrittäjät, warned on X.
Jukka Appelqvist, the chief economist at Finland Chamber of Commerce, similarly estimated that the latest statistics suggest the employment situation is deteriorating but has yet to become outright catastrophic. Employment, he observed, has decreased gradually after peaking toward the end of last autumn.
“Unfortunately the decrease will fairly surely continue also in the coming months,” he stated in a press release.
“The number of temporary lay-offs has nearly doubled in a year, which tells a lot about the economic situation. The duration of the difficult economic situation will determine whether the temporary lay-offs will turn into permanent unemployment. Companies suffering from the skills shortage would prefer not to lose their workforce on flimsy grounds.”
Statistics Finland on Tuesday revealed that the unemployment rate – that is, the share of the unemployed of the 15–74-year-old population – was 6.8 per cent in October, a point lower than in October 2022. The rate stood at 6.9 per cent for men and 6.6 per cent for women.
The trend of the unemployment rate, in turn, crept up by 0.1 points year-on-year to 7.5 per cent.
Aleksi Teivainen – HT
- Next Article Finnish government’s tougher border measures blocked by deputy chancellor of justice
Source: www.helsinkitimes.fi
