Finland Sees Increase in Unemployment for 2024
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Synopsis
In 2024, Finland's unemployment rate has risen as employment opportunities have diminished. Statistics Finland reported a significant decline in the employed workforce, with a notable increase in unemployment figures, particularly among highly educated professionals, raising concerns about the overall labor market outlook.
Key Takeaways
- Unemployment rate in Finland increased to 8.4% in 2024.
- Employed individuals aged 15 to 74 dropped by 25,000.
- 34,000 more people became unemployed compared to the previous year.
- 76.7% employment rate observed in the 20 to 64 age group.
- Long-term unemployment continues to rise.
Helsinki, Jan 25 (NationPress) The unemployment rate in Finland has increased as employment opportunities have declined in 2024, as reported by Statistics Finland.
The statistical agency revealed that the average number of individuals aged 15 to 74 who were employed stood at 2,602,000, with 238,000 classified as unemployed. This marks a decrease of 25,000 employed individuals and an increase of 34,000 unemployed individuals compared to the previous year, according to the Xinhua news agency.
Within the age range of 20 to 64, the employment rate was 76.7% last year, reflecting a 1.2% decline from 2023.
Simultaneously, the total number of unemployed individuals in Finland rose compared to the previous year. The unemployment rate among those aged 15 to 74 reached 8.4% in 2024, an increase of 1.2% percentage points from the preceding year.
"Unemployment continues to remain at elevated levels, with no indications of improvement in the labor market," stated Henna Busk, a senior economist at Pellervo Economic Research PTT, in response to the recent employment statistics published by Statistics Finland.
In a press release distributed by PTT on Friday, Busk expressed concern that the sector of professional, scientific, and technical activities experienced the most significant decline in employment during the fourth quarter of 2024 compared to the same period in 2023, signaling a troubling trend in employment for highly educated individuals.
The count of long-term unemployed individuals also persists in its upward trajectory. "A larger cohort of long-term unemployed individuals complicates efforts to reduce overall unemployment," Busk remarked.
