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Young adults among groups facing greatest risk of poverty

The national data cruncher Statistics Finland has estimated that in 2013 nearly 700,000 people in Finland could be classified as very low income earners. Young adults made up one-fifth of persons considered to most at risk of poverty.

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Image: Yle

Next to unemployed persons who represented 23 percent of people at the greatest risk of descending into poverty, young people aged 18 to 24 were most in danger of facing poverty, according to the latest data released by Statistics Finland.  Altogether individuals aged 18 to 34 accounted for 45 percent of those most at risk of poverty.

The latest poverty data presented by Statistics Finland are from 2013, when the risk-of-poverty income threshold for households was 1,190 euros per month (14,260 euros per year). Income refers to cash after taxes and includes earned income, property income and transfers.

Statistics Finland defined "most-at-risk-of-poverty" groups as persons whose income was below 40 percent of the median income - or below 990 euros per month. This group included students aged 18 – 24 and persons unemployed for six months or more.

Groups deemed to be close to the risk of poverty had a disposable monthly income of between 990 and 1,190 euros per month. However individuals considered to be most at risk of poverty had monthly disposable incomes of less than 792 euros per month - the category into which many young and unemployed persons fell.

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