In a recent press release by the Ministry of Employment and Economic Affairs, it was revealed that Finland witnessed a significant increase in the number of jobseekers in April. The report indicated that there were a total of 246,100 unemployed individuals actively seeking employment, marking an alarming rise of 7,400 compared to the same period last year.
The figures depict a challenging job market, with an increase of 7,400 jobless individuals within a year. However, the report also highlighted some positive developments, indicating that 74,400 new job openings were reported in April alone. Nevertheless, this number fell short of the previous year by 36,800, leaving a total of 170,300 available jobs—an unfortunate decline of 70,400 positions compared to the previous year.
The Ministry of Employment and Economic Affairs emphasized that among the jobseekers, 138,500 were registered as customers of local employment trials, showing a rise of 8,700 compared to April of the previous year. It is important to note that this figure includes individuals on full-time furlough. These findings were part of the comprehensive employment overview conducted by the ministry.
Moreover, the data revealed that at the end of April, Finland had 24,600 individuals on temporary layoff, an increase of 1,200 compared to the corresponding period in the previous year. Out of this total, 19,000 individuals were fully furloughed, representing an increase of 2,400 from April last year. However, there has been a gradual decline in the number of individuals on full-time furlough since March, with a decrease of 3,900.
The report also shed light on the situation of long-term unemployed individuals. It indicated that 84,700 individuals had been continuously unemployed for at least one year, showing a decline of 12,300 compared to the previous year. Among the unemployed, there were 92,500 individuals over the age of 50, reflecting a decrease of 2,300 compared to the same period last year.
The data highlighted the challenges faced by young jobseekers as well. In April, there were 25,100 unemployed individuals under the age of 25, representing an increase of 400 compared to the previous year. However, the report indicated that the average rate of unemployment periods lasting less than three months for young individuals decreased by 4.0 percentage points compared to the previous year, reaching 57.6%.
On a broader scale, the report provided insights from the Statistics Finland’s labor force survey. It revealed that in April, there were 17,000 more employed individuals compared to the previous year. The trend in the relative employment rate reached 74.2%, showing a 0.5 percentage point increase from the same period last year. However, the number of unemployed individuals stood at 222,000, marking an increase of 29,000 compared to the previous year. The trend in the relative unemployment rate reached 6.7%, rising by 0.3 percentage points from the previous year.
The Ministry of Employment and Economic Affairs highlighted the differences between the employment agency statistics and the labor force survey conducted by Statistics Finland. While the ministry’s statistics include individuals without employment and those on full-time furlough, the labor force survey follows a stricter definition of unemployment. Nevertheless, the labor force survey is internationally comparable and provides the official unemployment figures.
As Finland grapples with the challenges of unemployment, policymakers and stakeholders continue their efforts to support job creation, address the needs of specific demographics, and foster a resilient and inclusive labor market.