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Published: 24 June 2014

Unemployment rate 10.7 per cent in May

According to Statistics Finland’s Labour Force Survey, the number of unemployed persons in May 2014 was 296,000, which was slightly lower than one year ago. The unemployment rate was 10.7 per cent, having been 10.8 per cent in May of the year before. There were 14,000 fewer employed persons than in May of the previous year. The number of persons in the inactive population was 27,000 higher in May 2014 than one year earlier.

Unemployment rate and trend of unemployment rate 2004/05 – 2014/05

Unemployment rate and trend of unemployment rate 2004/05 – 2014/05

In May 2014, the number of employed persons was 2,460,000 (margin of error ±32,000), which was 14,000 lower than a year earlier. There were 15,000 fewer employed men and nearly as many employed women as in May 2013. The number of employed persons decreased in the private sector and grew in the public sector compared with May 2013.

In May, the employment rate, that is, the proportion of the employed among persons aged 15 to 64, was 68.9 per cent, or the same as one year earlier. Men’s employment rate was 69.2 per cent and women’s 68.5 per cent. Adjusted for seasonal and random variation, the trend of the employment rate was 68.4 per cent.

According to Statistics Finland's Labour Force Survey, there were 296,000 unemployed (margin of error ±20,000) in May 2014, which was slightly less than one year earlier. The number of unemployed men was 168,000 and that of women 128,000.

The unemployment rate in May 2014 was 10.7 per cent and one year earlier it was 10.8 per cent. Men’s unemployment rate was 11.8 per cent and women’s 9.6 per cent. The trend of the unemployment rate was 8.6 per cent.

In May, there were a total of 652,000 young people aged 15 to 24 . Of them, 285,000 were employed and 128,000 unemployed. Thus, the labour force of young people (employed and unemployed) totalled 413,000. The share of unemployed young people aged 15 to 24 among the population in the same age group was 19.6 per cent. In May, the unemployment rate for young people aged 15 to 24, that is, the proportion of the unemployed among the labour force, stood at 30.9 per cent, which was 4.3 percentage points lower than one year previously. The trend of the unemployment rate among young people was 19.6 per cent.

There were 1,337,000 persons in the inactive population in May 2014, which was 27,000 more than in May 2013. Of the inactive population, 122,000 persons were in disguised unemployment .

Changes in employment 2013/05 – 2014/05 according to Statistics Finland’s Labour Force Survey, population aged 15 to 74

  Year/Month Change
2013/05 2014/05 2013/05 - 2014/05
1000 persons Per cent, %
Population total 4 085 4 094 0,2
Active population total 2 774 2 756 –0,6
Employed 2 474 2 460 –0,6
– employees 2 142 2 137 –0,3
– self-employed persons and unpaid family workers 332 324 –2,6
Unemployed 300 296 –1,3
Inactive population 1 311 1 337 2,0
– Persons in disguised unemployment 115 122 5,8
  Per cent, % Percentage points
Employment rate, persons aged 15 to 64 68,9 68,9 –0,1
Unemployment rate 10,8 10,7 –0,1
Activity rate 67,9 67,3 –0,6
Unrounded figures are used in the Change column.
The data comply with the ILO/EU definition.

Employment Service Statistics of the Ministry of Employment and the Economy

At the end of May 2014, there were altogether 302,000 persons registered in accordance with the Employment Office Regulations as job seekers at the employment and economic development offices. The number of unemployed job seekers was 33,000 higher than in May 2013.

Unemployment increased from the previous year's May in the areas of all Employment and Economic Development Centres; most in Uusimaa (19%), Kainuu (16%) and Central Finland (15%). At the end of May, the number of temporarily laid off persons registered at the employment and economic development offices was 21,000, which was 6,000 more than twelve months earlier.

The number of persons engaged in services included in the activation stage totalled 127,000 at the end of May, which was 18,000 more than in May of the year before. Altogether, 4.6 per cent of the labour force was covered by labour market policy services.

There were 38,000 unemployed job seekers aged under 25 registered at the employment and economic development offices. Their number was 5,000 higher than in last year's May. During May, 36,000 new vacancies were reported to the employment and economic development offices, which is 5,000 fewer than in May 2013.

Changes 2013/05 – 2014/05 according to the Employment Service Statistics of the Ministry of Employment and the Economy

  Year/Month Change
2013/05 2014/05 2013/05 - 2014/05
1000 persons Per cent, %
Unemployed job seekers 1) 269 302 12,3
– unemployed over a year 70 87 24,5
Services, total 109 127 16,3
– employed 32 40 25,3
– in labour market training, in training 28 29 5,6
– in trainee places, engaged in work/training trials 12 12 1,5
– as a job alternation substitute, in rehabilitative work, self-motivated studies supported by unemployment benefit 37 45 21,6
New vacancies at employment and economic development offices 42 36 –13,1
Unrounded figures are used in the Change column.
1) The law reform that entered into force at the beginning of 2013 and the change in the lay-off procedure on 1 July increase the number of unemployed job seekers somewhat.

Links: Law reform 1 January 2013
Change in the lay-off procedure 1 July 2013

Contact information for the Ministry of Employment and the Economy:
Petri Syvänen tel. +358 29 504 8050, http://www.tem.fi/employmentbulletin

Links

Labour Force Survey tables in databases

Differences between the Labour Force Survey and the Employment Service Statistics are explained in the quality description of the Labour Force Survey.

About seasonally adjusted trend

Comparison between the statistics of Statistics Finland and the Ministry of Employment and the Economy

Latest seasonally adjusted employment figures published by the EU can be found on Eurostat's home page http://epp.eurostat.ec.europa.eu

Job vacancies


Source: Labour force survey 2014, May. Statistics Finland

Inquiries: Kirsi Toivonen 029 551 3535, Joanna Viinikka 029 551 3796, tyovoimatutkimus@stat.fi

Director in charge: Riitta Harala

Publication in pdf-format (465.6 kB)

Tables

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Appendix tables

Figures
Quality descriptions

Updated 24.6.2014

Referencing instructions:

Official Statistics of Finland (OSF): Labour force survey [e-publication].
ISSN=1798-7857. May 2014. Helsinki: Statistics Finland [referred: 16.12.2024].
Access method: http://www.stat.fi/til/tyti/2014/05/tyti_2014_05_2014-06-24_tie_001_en.html