Unemployment rate rises in Finland in August

Unemployment rate rises in Finland in August

The employment rate for the 20-64 age group was 77.8%, and for the traditional 15-64 age group was 74.1%. Since last autumn, the employment rate has been relatively steady, with a horizontal trajectory.

Appelqvist added that the state's supreme court had the power to uphold a court's decision not to appoint a nominee.

The unemployment rate in Finland's Uusimaa region, which includes Helsinki, has experienced a notable increase of 4.1% compared to the previous year. By the end of August, there were a total of 85,760 unemployed job seekers in Uusimaa, with 82,019 of them missing a job and 3,741 on temporary layoffs. The number of job seekers without employment rose by 2,518 individuals, while the number of those on temporary layoffs rose by 869 individuals compared to the previous year. Nationally, job seekers without employment rose by 2.3%, and the number of workers on temporary layoffs surged by 52.6% compared to the previous year.

The number of unemployed in Uusimaa rose by 4.1% compared to the previous year, with 3,387 more people unemployed than in August of the previous year. The annual change across the nation at the end of August was 4.3%. The unemployment rate in Uusimaa was 9.6 percent, compared to the national average of 9.4%.

Unemployment among job seekers under 25 years of age decreased by 0.4%, compared to the previous year, at 7,212 individuals in the region. But unemployment rose to 2.6% among those older than 30 years of age, with 16.135 individuals without jobs at the end of August. In a positive note, long-term unemployment in the region decreased by 2.5%, leaving 35,302 individuals in this category. The number of foreign-born unemployed individuals increased by 11.7%, to 19,957 people, compared to the previous year.

In August, 19,676 new job openings were reported to the Uusimaa employment office, a decrease of 43.1% compared to the previous year. The increase in job openings throughout the nation was -32.2%.

The number of jobless people in Finland rose significantly in August, marking the most rapid rise in more than two years. The surge was particularly strong among those aged 55 and older.

The YTK Unemployment Fund's member unemployment rate grew by 1.2 percentage points in August. In August, YTK members had a jobless rate of 6.8% compared to 5.6% in July. The swift rise was last observed in March 2021.

The joblessness rate in Central Ostrobothnia rose by 1.8 percent, with the largest increase in the country being in Central Ostrobothnia.

The unemployment rate among YTK members is now higher than it was a year ago, with a small margin of 0.3 percentage points.

The age group most affected by the surge in unemployment in August was those aged 55 and older, with a 2.3% increase in the category of 56-68.

The unemployment rate appears to be at the same as August's, according to the numbers of applications received. It will become clear only after the end of the month.

The unemployment rate among those with only a basic education increased most rapidly, reaching 12% in August. A vocational school degree had a unemployment rate of 7.9%, high school graduates 7.3%, university degree holders 6.9%, and those with an applied science degree 5.2%.

With over 520,000 members, the YTK Unemployment Fund represents about one-third of Finland's wage earners, making it the largest provider of employment-related security.