A woman at home in Helsinki. LEHTIKUVA
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In 2024, 9% of Finns lived in households struggling to cover essential expenses, marking the third year of increasing financial difficulties. The share was nearly the same as in 2004, according to data from Statistics Finland.
Families with children faced the most significant rise in hardship. Nearly 9% of people in two-parent households reported financial struggles.
In single-parent households, the figure remained the highest, with nearly one in five experiencing difficulty making ends meet.
“Overall, 11.5% of children lived in households facing financial hardship in 2024. The last time the share of affected children exceeded 10% was in 2014,” said Kaisa-Mari Okkonen, senior actuary at Statistics Finland.
The number of people at risk of poverty or social exclusion increased by 57,000 in 2023, reaching 930,000. A person is considered at risk if their household is classified as low-income, underemployed, or experiencing severe material and social deprivation.
The share of children in this category rose to over 17% in 2023, surpassing the overall population’s risk level.
“The poverty and exclusion risk for children grew more than for the general population, while the risk for those aged 75 and over decreased significantly. The highest risk was among 18–29-year-olds, with around 30% in this category,” Okkonen said.
Most at risk were those classified as low-income. However, the most notable increase came from severe material and social deprivation, which rose from 148,000 people in 2022 to 198,000 in 2023.
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Source: www.helsinkitimes.fi
