People collecting groceries from the Myllypuro food distribution point in Helsinki. LEHTIKUVA
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Nearly one-third of young adults in Finland are living below the at-risk-of-poverty threshold, according to a new report by the Finnish social insurance institution Kela.
The study, which focused on people aged 20 to 29, placed Finland among the worst performers in a comparison of selected European countries. Only Denmark reported a higher rate of poverty risk in the same age group.
In contrast, countries like Sweden, the Netherlands, and Estonia recorded a significantly lower proportion, with around 15 percent of their young adult populations falling under the poverty line.
The poverty threshold in Finland was defined as €1,451 per month for a single-person household. Based on this metric, one in three young Finnish adults are surviving on less than this amount. The data reflects how living alone increases the risk of financial hardship.
The report found that Finnish young adults, despite being more likely to fall under the poverty threshold, were closer on average to the limit than their peers in other countries. In Finland, the gap between actual income and the poverty line was 17 percent, compared to a 20 percent gap in the comparison countries.
Kela’s findings also align with earlier research from the Prime Minister’s Office, which highlighted the financial vulnerability of young people who live independently. Reliance on student loans and income support has grown, increasing debt and worsening economic conditions for many.
The structure of household living also plays a role in the comparison. In countries such as the Netherlands and Estonia, it is more common for people in their twenties to live with their parents, thereby reducing individual financial pressure. In Finland, independent living among young adults is more widespread, exposing them to higher costs of rent, utilities, and other essentials.
The report suggests that current economic support mechanisms may not be sufficient to meet the needs of young adults living on their own, especially in an environment of rising living expenses. The data underscores a growing concern about the financial well-being of a generation entering adulthood with limited economic security.
HT
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Source: www.helsinkitimes.fi
