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Home BUSINESSUnemployment rate stands at 7.4% in August
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Wed, 24 Sep, 2014 12:11:49 AM
Employment slides in both public and private sectors
Unemployment rate stands at 7.4% in August
FTimes Report, Sept 24

 

Unemployed person at the employment office for searching job in Helsinki. File Photo Lehtikuva.
The number of unemployed persons in the country stood at 197,000 in August or 6,000 more than one year earlier, according to Statistics Finland’s Labour Force Survey.
 
The survey report released on Tuesday said the unemployment rate was 7.4 per cent in August, which was slightly higher than the 7.1% of the previous year, said a press release.
 
The number of employed persons was 2,465,000, which was 21,000 lower than in last year’s August. The weak labour market situation does not encourage people to seek work actively, which is visible as an increase in disguised unemployment. 
 
The number of persons in disguised unemployment in the inactive population was 32,000 higher than one year earlier.
 
There were 29,000 fewer employed men and 8,000 more employed women than in August 2013. 
 
Unemployment rate and trend of unemployment rate 2004/08–2014/08, persons aged 15–74. Source: Statistics Finland.
The number of employed persons decreased in both private and public sectors. The number of employees went down and that of self-employed persons and unpaid family workers remained almost unchanged compared with August 2013.
 
In August 2014, the employment rate, that is the proportion of the employed among persons aged 15 to 64, stood at 68.9 per cent, having been 69.4 per cent one year earlier.
 
Men’s employment rate was 69.0 per cent and women’s 68.8 per cent. Adjusted for seasonal and random variations, the trend of the employment rate was 68.1 per cent.
 
According to the survey findings, the number of unemployed men was 105,000 and that of women 91,000.
 
Men’s unemployment rate was 7.7 per cent and women’s 7.0 per cent. The trend of the unemployment rate was 8.2 per cent.
 

Changes in employment 2013/08 – 2014/08 according to Statistics Finland’s Labour Force Survey, population aged 15 to 74

  Year/Month Change
2013/08 2014/08 2013/08 - 2014/08
1000 persons Per cent, %
Population total 4 087 4 096 0,2
Active population total 2 676 2 662 –0,6
Employed 2 486 2 465 –0,8
– employees 2 139 2 118 –1,0
– self-employed persons and unpaid family workers 346 347 0,3
Unemployed 191 197 3,2
Inactive population 1 411 1 434 1,7
– Persons in disguised unemployment 116 149 28,0
  Per cent, % Percentage points
Employment rate, persons aged 15 to 64 69,4 68,9 –0,5
Unemployment rate 7,1 7,4 0,3
Activity rate 65,5 65,0 –0,5
Unrounded figures are used in the Change column.
The data comply with the ILO/EU definition.

 

Changes 2013/08–2014/08 according to the Employment Service Statistics of the Ministry of Employment and the Economy

  Year/Month Change
2013/08 2014/08 2013/08 - 2014/08
1000 persons Per cent, %
Unemployed job seekers 1) 290 319 10,1
– unemployed over a year 76 92 20,9
Services, total 102 117 14,4
– employed 33 39 18,0
– in labour market training, in training 25 24 –4,5
– in trainee places, engaged in work/training trials 8 9 4,8
– as a job alternation substitute, in rehabilitative work, self-motivated studies supported by unemployment benefit 35 45 26,8
New vacancies at employment and economic development offices 36 36 0,8
Unrounded figures are used in the Change column.

1) The law reform that entered into force at the beginning of 2013 and the change in the lay-off procedure on 1 July increase the number of unemployed job seekers somewhat.

 
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