Finland’s employment rate drops as coronavirus crisis hits | Yle Uutiset

The Offices for Employment and Economic Development registered a total of 417,000 job seekers at the end of June 2020.

Image: Anni Reenpää / Lehtikuva

Unemployment rose in the spring, according to the number of job seekers registered by the government and the monthly report based on a survey by the statistics agency.

According to the latest figures from the Labor Force Survey conducted by the national statistical institute Statistics Finland, there were 87,000 fewer people in full-time jobs in Finland in June of this year compared to the same month. last year.

Restrictive measures and the economic impact of the coronavirus crisis in the spring contributed significantly to the drop in the employment rate in Finland, which now stands at 72.4%.

According to Statistics Finland, the unemployment rate was 6.7% in June, which means that there were 47,000 more unemployed than at the same time last year.

Figures have been adjusted for factors such as seasonal variations

Statistics Finland also revised the employment rate figure provided in May, which had been reported at 72.6 percent, but has now been adjusted to 72.5 percent.

Uncertainty about the real number of unemployed

According to Statistics Finland data, the number of unemployed people in Finland currently stands at 223,000.

Figures provided by the Ministry of Economic Affairs and Employment on Tuesday suggest that the real number is much higher.

The ministry’s estimate is based on registration data from the Regional Offices for Employment and Economic Development (or TE-toimisto), and found that there were a total of 416,900 registered job seekers in their offices at the end of June 2020, year after year. annual increase of 162,700.

The difference between the figures can be explained at least in part by the inclusion by the Ministry of workers on leave in its unemployment figure. While the ministry counts all those registered as unemployed, which includes workers on leave because they must register to claim benefits, the Labor Force Survey asks a sample of people if they are unemployed.

The ministry also reported a higher unemployment rate, which stands at 7.9% according to its data, which is an increase of 1.8 percentage points from June last year.

This figure includes 75,200 long-term unemployed – which the ministry defines as those without a break for more than a year – and is also up, 11,400 from last year.

In addition, the number of “hidden unemployed” was estimated at 179,000 in June, 47,000 more than a year earlier. Hidden unemployment refers to people who would like a job, but have not actively looked for one.

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