A client at a Helsinki employment services office. Photo: Markku Ulander / Lehtikuva
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Long-term unemployment in Finland has surged to its highest level in more than two decades, according to new figures released by Statistics Finland.
In July, 128,900 people had been unemployed for over a year. That marks an increase of 30,200 compared to the same time last year. The number of individuals unemployed for more than two consecutive years stood at 62,100, nearly 10,000 more than in July 2024.
Total unemployment in July reached 269,000. That figure represents 40,000 more unemployed people than the previous year.
Chief Economist Jukka Appelqvist of the Finland Chamber of Commerce described the labour market as “exceptionally tight and difficult” from the jobseeker’s perspective. He said that the number of open vacancies remains low, with little indication of improving demand for labour.
“The continued rise in long-term unemployment, combined with a lack of new job openings, shows no sign of reversing,” Appelqvist said in a statement. “Right now, there are very few vacancies relative to the number of unemployed people.”
According to the data, the unemployment rate trend for those aged 15 to 74 stood at 9.6 percent in July.
The number of people in employment also fell. There were 43,000 fewer employed individuals compared to July 2024. Among men, employment decreased by 35,000, while the number of employed women declined by 7,000.
The employment rate trend for people aged 20 to 64 was recorded at 75.8 percent.
Only 27,200 new vacancies were reported in July, down sharply from over 50,000 just two years ago.
Despite recent signs of improvement in export outlooks and domestic consumer demand, Appelqvist warned that overall economic growth remains stagnant.
“There have been some cautiously positive signals in industrial exports and domestic consumption,” he said. “But in the broader picture, economic growth hasn’t resumed, and there’s no sign of a rebound in employment. One would have to be fairly optimistic to expect any significant improvement in the job market before the end of the year.”
HT
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Source: www.helsinkitimes.fi
