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Home BUSINESSUnemployment rate rises to 10%
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Wed, 25 Mar, 2015 12:05:10 AM
FTimes Report, Mar 25

The unemployment rate increased to 10.1 per cent in February 2015 from 9.1 per cent in February last year, according to Statistics Finland’s Labour Force Survey.

The number of unemployed persons in February was 268,000, which was 27,000 higher than one year before.

There were 13,000 fewer employed persons than in February of the previous year.
The number of persons in the inactive population was 5,000 fewer than that of one year earlier.

In February 2015, the number of employed persons was 2,392,000, or 13,000 lower than a year earlier.

The number of employed persons decreased in the private sector, but grew in the public sector compared with February 2014, the data show.

In February 2015, the employment rate, that is the proportion of the employed among persons aged 15 to 64, stood at 66.6 per cent, having been 66.9 per cent one year earlier.

The employment rate for men fell by 0.6 percentage points from last year’s February to 66.7 per cent.

Women’s employment rate was almost unchanged from February 2014 and stood at 66.6 per cent. Adjusted for seasonal and random variation, the trend of the employment rate was 68.2 per cent.

At the end of February 2015, there were altogether 355,000 persons registered in accordance with the Employment Office Regulations as unemployed job seekers at the employment and economic development offices.

The number of unemployed job seekers was 32,000 higher than in February 2014 as per the statistics.

Unemployment increased from the previous year’s February in the areas of all Employment and Economic Development Centres except for Kainuu (0%); most in Uusimaa (15%), Ostrobothnia (12%), Satakunta (12%), South Ostrobothnia (11%) and North Savo (11%).

In February, 56,000 new vacancies were reported to the Employment and Economic Development Offices, which was 2,000 more than in February 2014.

 

Changes in employment 2014/02–2015/02 according to Statistics Finland’s Labour Force Survey, population aged 15 to 74.

 

  Year/Month Change
2014/02 2015/02 2014/02 - 2015/02
1000 persons Per cent, %
Population total 4 093 4 101 0,2
Active population total 2 647 2 660 0,5
Employed 2 405 2 392 –0,5
– employees 2 082 2 062 –1,0
– self-employed persons and unpaid family workers 323 330 2,1
Unemployed 241 268 11,1
Inactive population 1 446 1 441 –0,4
– Persons in disguised unemployment 135 121 –10,4
  Per cent, % Percentage points
Employment rate, persons aged 15 to 64 66,9 66,6 –0,3
Unemployment rate 9,1 10,1 1,0
Activity rate 64,7 64,9 0,2
Unrounded figures are used in the Change column.
The data comply with the ILO/EU definition.

Changes 2014/02–2015/02 according to the Employment Service Statistics of the Ministry of Employment and the Economy.

 

  Year/Month Change
2014/02 2015/02 2014/02 - 2015/02
1000 persons Per cent, %
Unemployed job seekers 1) 324 355 9,7
– unemployed over a year 86 103 19,0
Services, total 123 126 2,3
– employed 35 33 –7,1
– in labour market training, in training 30 27 –8,5
– in trainee places, engaged in work/training trials 12 12 –2,3
– as a job alternation substitute, in rehabilitative work, self-motivated studies supported by unemployment benefit 45 53 18,0
New vacancies at employment and economic development offices 54 56 4,3
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.

Source: Labour force survey 2015, February. Statistics Finland.

 
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