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Finland — Unemployment rate climbs to 8.2%

24 November 2009

According to the Labour Force Survey of Statistics Finland, the number of employed persons in October 2009 was 2.4 million (total population 5.3 million) or 119,000 lower than a year earlier. There were 81,000 fewer employed men and 38,000 fewer employed women than in October 2008. The number of both wage and salary earners and self-employed fell. The number of employed persons decreased in the Provinces of Southern, Western and Eastern Finland.

In October, the employment rate , that is, the proportion of the employed among persons aged 15 to 64, stood at 66.7%, which was 3.5 percentage points lower than one year before. Adjusted for seasonal and random variation, the trend of the employment rate was 67.2%. From last year’s October, men’s employment rate fell by 4.5 percentage points to 67.3 per cent and women’s by 2.4 percentage points to 66.2%.

According to the Labour Force Survey, there were 215,000 unemployed in October 2009, i.e. 60,000 more than in October of the year before. The number of unemployed men grew by 33,000 and that of unemployed women by 27,000.

At 8.2%, the unemployment rate was 2.4 percentage points higher in October than one year earlier. The unemployment rate for men rose by 2.7 percentage points to 8.7%, and that for women by 2.1 percentage points to 7.7%. In October 2009, the unemployment rate among young people aged 15 to 24 was 19.6%, which was 3.4 percentage points higher than in the previous year’s October. The trend of the unemployment rate among young people was 21.3%. The unemployment rate was lowest in the Province of Southern Finland, where it stood at 7.0%, and highest, at 11.8%, in the Province of Eastern Finland.

In October, there were 1.4 million persons of working age not in the labour force, which was 79,000 more than one year earlier. At the end of October, the number of temporarily laid off persons registered at the employment and economic development offices was 31,000, which was 23,000 higher than twelve months earlier. During this October, 28,000 new vacancies were reported to the employment and economic development offices, which is 11,000 fewer than in October 2008.

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