Finland Times

File picture, Job seeker waiting for serial in the employment office. Photo - Lehtikuva

The rate of unemployment in the country will rise to 8.4 per cent this year and the situation would remain unchanged in 2014, said a recent government report.

 

The Ministry of Employment and the Economy in an assessment report forecast the country’s unemployment situation for this year and the next saying that the economic outlook had taken a downturn since last autumn, said a government press release. 

 

The report said the employment rate was inching down but the downturn would continue for a long time.

 

The situation may improve slightly over 2014, if the economy picks up, although it is difficult to forecast an exact time for the expected rebound, the report said.

 

File Picture, Job seeker looking for job in the website of employment office. Photo - Lehtikuva

According to the latest forecast, the number of unemployed jobseekers will be to the tune of 290,000 in 2013 and 286,000 in 2014.

 

In the construction industry, employment will remain relatively stable. In the service sector, it, however, will decline this year, but considering the large size of the industry, the change will be relatively small. In 2014, employment in the service sector will return to its previous level. 

 

In the industrial sector, employment will plummet but at a much lesser rate than that seen during the recession in 2009-2010. Employment in this sector will not recover to its earlier level before 2015.

 

The average duration of unemployment will rise over this year and the next. The rate of long-term unemployment will also continue to rise.

 

The unemployment situation, however, will probably deteriorate in the Uusimaa, Southeast Finland, Pirkanmaa, and Lapland in particular.

 

The Ministry of Employment and the Economy comes up with a short-term labour market forecast twice a year.

 

The forecast constitutes the ministry's expert view of the near-future development trends and therefore serves as background information for policy development.