According to the latest Labour Force Survey released by Statistics Finland, the number of employed individuals aged 15 to 74 in April 2023 saw a slight rise of 17,000 compared to the same period last year. However, the number of unemployed individuals also increased by 29,000 during the same timeframe. The employment rate among individuals aged 20 to 64 stood at 78.6 percent, while the unemployment rate among individuals aged 15 to 74 was 6.7 percent.
The employment landscape in Finland has experienced subtle changes, as indicated by the data from the Labour Force Survey. In April 2023, the total number of employed persons aged 15 to 74 reached 2,606,000, representing an increase of 17,000 compared to April 2022. Among them, 12,000 more men and 5,000 more women were employed compared to the previous year.
The employment rate among individuals aged 20 to 64, which measures the proportion of employed individuals in this age group, stood at 77.8 percent in April 2023. This marked a slight increase from the 77.1 percent recorded in the same age group in April 2022. The employment rate for men aged 20 to 64 increased by 0.5 percentage points to 77.2 percent, while for women, it rose by 0.9 percentage points to 78.4 percent.
Among individuals aged 20 to 69, the employment rate reached 71.9 percent in April 2023, compared to 71.4 percent in the previous year.
On the other hand, the number of unemployed persons aged 15 to 74 in April 2023 was 222,000, showing an increase of 29,000 from the previous year. Of the total, 117,000 were men and 105,000 were women.
The unemployment rate among individuals aged 15 to 74 in April 2023 stood at 7.9 percent, compared to 6.9 percent in April 2022. The unemployment rate for men rose by 0.4 percentage points to 8.1 percent, while for women, it increased by 1.5 percentage points to 7.6 percent.
In April 2023, the unemployment rate among young people aged 15 to 24 was 22.6 percent, representing a significant increase of 5.7 percentage points compared to the previous year. The trend of the unemployment rate among young people stood at 14.7 percent, and the share of unemployed individuals aged 15 to 24 among the population in the same age group was 12.2 percent.
The Labour Force Survey also revealed a decrease in the inactive population, with 40,000 fewer individuals aged 15 to 74 classified as inactive in April 2023 compared to the previous year.
The employment and unemployment figures, when analyzed on a monthly basis, exhibit significant variation due to seasonal factors. Therefore, to discern long-term trends and cyclical changes, it is advisable to rely on the trend series, which adjusts for seasonal and random variation.
It should be noted that the latest trend figures are subject to revision as subsequent data is incorporated into the time series. Thus, for accurate analysis, only the most recent published trend figures should be utilized.