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Home BUSINESSUnemployment grows to 9.5%
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Fri, 25 Apr, 2014 12:02:18 AM
FTimes Report, April 25
 
young man to fill up form to apply for a job in Helsinki. Photo – Lehtikuva.
Unemployment in the country has increased slightly in March over the last one year.
 
According to Statistics Finland’s Labour Force Survey, the number of unemployed people in March 2014 was 252,000, up by 16,000 than one year ago, posting the country’s unemployment rate at 9.5 per cent compared to 9.0 per cent in March 2013.
 
The number of employed people has remained almost unchanged over the year. 
 
The unemployment rate in the first quarter (January to March) was 9.0 per cent, which was 0.3 percentage points higher than that in the respective quarter of 2013.
 
In March 2014 the number of employed persons was 2,392,000 (margin of error ±31,000), which was almost the same as one year earlier. The number of employed persons grew in the private sector and fell in the public sector compared with March 2013.
 
In March 2014 the employment rate, that is the proportion of the employed among persons aged 15 to 64, stood at 66.7 per cent, having been 66.6 per cent one year earlier. Men’s employment rate was 66.9 per cent and women’s 66.6 per cent. Adjusted for seasonal and random variation, the trend of the employment rate was 68.4 per cent.
 
Unemployment rate and trend of unemployment rate 2004/03 – 2014/03. Source: Statistics Finland.
In the first quarter of 2014 the number of persons in the inactive population was 1,460,000, which is 17,000 more than that a year earlier. Of the inactive population, 137,000 persons were in disguised unemployment, registering a rise of 21,000 over the year.
 
At the end of March 2014 there were altogether 316,000 persons registered in accordance with the Employment Office Regulations as job-seekers at employment and economic development offices. The number of unemployed job-seekers was 29,000 higher than in last year’s March.
 
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