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Fast Comment FinlandUnemployment trending down more than expected

  1. Unemployment rate (S.A.) 8.0 percent in April
  2. Employment rate remained at 71.0 percent
  3. Unemployment is falling and the outlook remains positive
Unemployment rate (S.A.) 8.0 percent in April
According to Statistics Finland's ILO/EU-compatible Labour Force Survey, the seasonally-adjusted unemployment rate was 8.0 percent in April 2018. In a y-o-y comparison, the unemployment rate decreased by 0.8 percentage points.
Employment rate remained at 71.0 percent
Employment increased by 48,000 people from a year ago and the labour force increased by 3,000 people y-o-y. The number of unemployed decreased by 45,000 people y-o-y in April. The seasonally-adjusted employment rate remained unchanged at 71.0 percent. The seasonally-adjusted unemployment rate among young people (aged 15-24) decreased by 2.0 percentage points y-o-y, to 18.2 percent.
Unemployment is falling and the outlook remains positive
The Finnish labour market continues to show positive signs. Employment has grown quite rapidly since last autumn and now also the number of unemployed people is trending down. Thus the seasonally-adjusted unemployment rate has decreased somewhat more than we expected, and reached 8.0 percent in April. Just a couple of months ago, it seemed that the unemployment rate in the eurozone on average would catch up with Finland’s unemployment rate, but this now looks unlikely to happen in the near term as the trend has again turned down in Finland. Employment expectations are still elevated in manufacturing, services, construction and retail trade, so this positive trend in the Finnish labour market is likely to continue in the near future.

 



Disclaimer

Janne Ronkanen

Senior Economist

Finland

jaro06@handelsbanken.se

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