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Unemployment in February rises by 35,000 year-on-year

The unemployment rate was 8.1 percent last month, up from 6.9 percent last year. 

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Unemployment rises by 35,000 in February 2021 Image: All Over Press
Yle News

The number of unemployed people in Finland rose by 35,000 in February compared to the same month last year, according to the Labour Force Survey conducted by Statistics Finland.

The figures revealed that the total number of unemployed people was 220,000, up from 185,000 in February 2020.

The unemployment rate was 8.1 in February, up from 6.9 the year before, with employment among 16- to 64-year-olds standing at 70.0, having been 70.3 in February 2020.

The unemployment rate among men rose by 1.5 percent from February last year to 9.2 percent, while the unemployment rate for women rose by 1.0 percentage point to 7.0 percent.

Statistics Finland's methodology for calculating changes in the labour market was renewed at the beginning of this year, which means that they are unable to publish trend figures.

Statistics Finland explained that this means the data for February 2021 may not be comparable with earlier released data and may be revised at a later date.

Furloughs on the rise

Separately, an employment review from the Ministry for Economic Affairs and Employment found that 72,600 people had been furloughed by the end of February, an increase of 47,700 from the year before.

A total of 55,700 people were full time furloughed, up by 36,900 from February of 2020.

Statistics Finland carries out a Labour Force Survey each month to determine unemployment rates, meaning its figures tend to differ from those used by the Ministry for Employment and the Economy.

Furloughed employees are included in the ministry's numbers, as they have to register to receive income-linked unemployment benefits. Statistics Finland's data 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.

Statistics Finland produces Finland's official and internationally-comparable unemployment figures.

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