The Open Unemployment Fund conducts informational events at workplaces about unemployment security for those who are laid off or dismissed. Photo: A-fund / Kusti Manninen
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Recent survey results from the Open Unemployment Fund (Avoin työttömyyskassa) in Finland have revealed a growing concern among workers about their employment situation in 2024. The survey, conducted in January and involving over 3,000 members, indicates a noticeable shift in workers’ sentiments compared to last year.
In January, only 33% of respondents described their job situation as promising, a decline from 41% who felt the same way in September 2023.
More strikingly, the percentage of those worried about their job status has risen from 19% in September to 24% in January. This change is underscored by the fact that 29% of the respondents were unemployed as of January, with another 14% facing imminent job loss.
A significant factor contributing to this unease is the marked increase in layoffs towards the end of 2023. The proportion of layoffs among applicants for unemployment benefits soared to 40% in December. Throughout 2023, 48.9% of those receiving income-based unemployment benefits were laid off, compared to 33% in 2022. This upward trend in layoffs, which began intensifying post-August and continued through December, is a clear indicator of the growing job market instability.
However, a silver lining in the rise of layoffs is the continued existence of the employment relationship, suggesting a higher likelihood of these workers returning to their jobs.
The Open Unemployment Fund has also reported a surge in the payment of unemployment benefits. By mid-January 2024, income-based unemployment benefits had been paid to 20,283 applicants, a 64% increase from the same period in the previous year, where only 12,392 applicants received benefits.
Responding to this situation, the Open Unemployment Fund has significantly increased its informational sessions at workplaces, focusing on unemployment security for those who are laid off or dismissed. The rise in these sessions indicates an anticipated influx of new layoffs or unemployment periods, expected to be reflected in the volume of applications received by the fund.
This data paints a concerning picture for the Finnish labor market as it enters 2024, with many workers facing uncertainty and an increasing need for support and information regarding unemployment benefits and job security.
HT
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Source: www.helsinkitimes.fi
