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Unemployment falls to 10-year low in Finland

Finland's unemployment trend stood at 6.6 percent at year-end, the lowest since October 2008.

rakennusmies ja betonipalkki
Image: Emmi Korhonen / Lehtikuva

Figures published by Statistics Finland on Thursday show that the number of unemployed fell considerably last year. At the end of last December, 146,000 people were jobless, down from 228,000 at the end of 2017.

The unemployment rate was 5.4 percent at year-end, while the unemployment trend stood at 6.6 percent – the lowest level since October 2008. The trend is adjusted for seasonal and random variations and is considered a more meaningful measurement of unemployment, according to the agency.

Meanwhile, the trend of the employment rate was 72.5 per cent at the end of December, reaching just above the government’s target of 72 percent.

More vacant jobs

At the same time, the number of available jobs saw a dramatic rise, according to the Employment Bulletin from the Ministry of Economic Affairs and Employment.

The number of vacancies reported to Employment and Economic Development Offices across the country totalled 89,600 at the end of December last year, according to the bulletin. In comparison, there were 11,200 fewer unfilled positions available in December of 2017.

More than a half – about 46,000 – of the available jobs at the end of 2018 were new vacancies.

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