Finland: Coronavirus has hit employment rates. Unemployment up by nearly 50,000 in a year

NordenBladet – Finland’s unemployment rate in July was 7.7 percent, up from 6 percent a year earlier, according to Statistics Finland.

The equates to around 47,000 more people being out of work in July compared to the same month in 2019. Nevertheless unemployment dipped by 30,000 compared to the number for June.

The total number of unemployed people was 216,000, according to Statistics Finland. The Ministry for Employment and the Economy recorded some 387,500 unemployed jobseekers at the time, up 116,000 on a year earlier.

The national statistics agency conducts a Labour Force Survey each month to determine unemployment rates, meaning its figures differ from those used by the Ministry for Employment and the Economy.

The survey method is used by similar agencies in different countries, making that number comparable to those released by similar agencies abroad.

Furloughed employees are included in the ministry’s numbers, as they have to register to receive income-linked unemployment benefits. Labour Force Survey statistics only include those who have been looking for work in the last month and are ready to start a new job in the next fortnight.