Economics Finland

FINLAND’S UNEMPLOYMENT RATE (OFFICIALLY) HITS 10%, 110 000 LONG TERM…….

The by-product of the welfare state.

It’s a downright scandal, but I don’t see people here outraged over it as they should be. The more government redistributes wealth, the less there is of it in the private sector to stir economic growth.

Unemployment rate at 10%, every fifth young person without work

Nuoria tutkimassa listaa avoimista työpaikoista

Statistics Finland reports that the unemployment rate in Finland reached ten percent in June 2015, up from 9.2 percent one year earlier. Youth unemployment is over 22 percent already, with no signs of improvement in sight because there are no jobs or internships to be had.

ccording to a Labour Force Survey from Statistics Finland, there were 280,000 unemployed in June 2015, a number 22,000 greater than one year earlier.

This put June’s numbers at 10.0 percent of the population, 0.8 percentage points higher than June of 2014. Men’s unemployment rate was 10.5 percent and women’s 9.4 percent.

The Employment Ministry utilizes a different method for calculating unemployment, and its figures from the end of June show a total of 368,900 jobseekers, or close to 32,000 more than one year earlier.

There were over 110,000 long-term unemployed – people who have been unemployed and seeking work for more than a year – in June, an increase of close to 20,000, according to the Ministry.

More here.

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