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Published: 25 November 2014

Unemployment rate 8.3 per cent in October

According to Statistics Finland’s Labour Force Survey, the number of unemployed persons in October 2014 was 220,000, which was 26,000 higher than one year ago. The unemployment rate was 8.3 per cent, having been 7.4 per cent in October of the year before. There were 7,000 fewer employed persons than in October of the previous year. The number of persons in disguised unemployment in the inactive population was 33,000 higher than one year earlier.

Unemployment rate and trend of unemployment rate 2004/10–2014/10, persons aged 15–74

Unemployment rate and trend of unemployment rate 2004/10–2014/10, persons aged 15–74

In October 2014, the number of employed persons was 2,419,000, which was 7,000 less than a year earlier (margin of error ±32,000). The number of employed persons decreased in the private sector and grew in the public sector compared with October 2013.

In October 2014, the employment rate , that is, the proportion of the employed among persons aged 15 to 64, stood at 67.6 per cent, having been 68.1 per cent one year earlier. Men’s employment rate was 68.2 per cent and women’s 67.0 per cent. Adjusted for seasonal and random variation, the trend of the employment rate was 68.3 per cent.

According to Statistics Finland's Labour Force Survey, there were 220,000 unemployed in October 2014, i.e. 26,000 more than one year earlier (margin of error ±18,000). The number of unemployed men was 133,000 and that of women 87,000.

At 8.3 per cent, the unemployment rate was 0.9 percentage points higher in October than one year earlier. Men’s unemployment rate was 9.7 per cent and women’s 6.9 per cent. The trend of the unemployment rate was 8.9 per cent.

In October, there were a total of 651,000 young people aged 15 to 24 . Of them, 229,000 were employed and 53,000 were unemployed. Thus, the labour force of young people (employed and unemployed) totalled 283,000. In October, the unemployment rate for young people aged 15 to 24, that is, the proportion of the unemployed among the labour force, stood at 18.8 per cent, which was 2.3 percentage points higher than one year previously. The trend of the unemployment rate among young people was 20.2 per cent. The share of unemployed young people aged 15 to 24 among the population in the same age group was 8.2 per cent.

There were 1,459,000 persons in the inactive population in October 2014, which was 10,000 fewer than one year earlier. Of the inactive population, 150,000 persons were in disguised unemployment , which was 33,000 more than in October 2013.

Changes in employment 2013/10 – 2014/10 according to Statistics Finland’s Labour Force Survey, population aged 15 to 74

  Year/Month Change
2013/10 2014/10 2013/10 - 2014/10
1000 persons Per cent, %
Population total 4 090 4 099 0,2
Active population total 2 620 2 639 0,7
Employed 2 426 2 419 –0,3
– employees 2 103 2 080 –1,1
– self-employed persons and unpaid family workers 323 339 4,9
Unemployed 194 220 13,5
Inactive population 1 470 1 459 –0,7
– Persons in disguised unemployment 117 150 28,1
  Per cent, % Percentage points
Employment rate, persons aged 15 to 64 68,1 67,6 –0,5
Unemployment rate 7,4 8,3 0,9
Activity rate 64,1 64,4 0,3
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 October 2014, there were a total of 320,000 persons registered in accordance with the Employment Office Regulations as unemployed job seekers at the employment and economic development offices . The number of unemployed job seekers was 30,000 higher than in October 2013.

Unemployment increased from the previous year's October in the areas of all Employment and Economic Development Centres; most in Ostrobothnia (16%), Uusimaa (14%), South Ostrobothnia (13%) and Varsinais-Suomi (12%). At the end of October, the number of temporarily laid off persons registered at the employment and economic development offices was 24,000, which was 4,000 more than twelve months earlier.

The number of persons engaged in services included in the activation rate totalled 130,000 at the end of October, which was 12,000 more than in October of the previous year. Altogether, 4.9 per cent of the labour force was covered by labour market policy services.

There were 41,000 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 October. During this October, 34,000 new vacancies were reported to the employment and economic development offices, which is the same amount as in October 2013.

Changes 2013/10–2014/10 according to the Employment Service Statistics of the Ministry of Employment and the Economy

  Year/Month Change
2013/10 2014/10 2013/10 - 2014/10
1000 persons Per cent, %
Unemployed job seekers 1) 290 320 10,5
– unemployed over a year 78 93 19,6
Services, total 118 130 10,2
– employed 35 37 5,9
– in labour market training, in training 31 29 –6,7
– in trainee places, engaged in work/training trials 12 12 –0,1
– as a job alternation substitute, in rehabilitative work, self-motivated studies supported by unemployment benefit 39 52 30,8
New vacancies at employment and economic development offices 34 34 –0,6
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

About seasonally adjusted trend

The accuracy of figures and the margins of error are explained in the quality description of the Labour Force Survey .

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 vacancy survey

Latest data published by the EU on job vacancies can be found on Eurostat's home page http://epp.eurostat.ec.europa.eu


Source: Labour force survey 2014, October. Statistics Finland

Inquiries: Joanna Viinikka 029 551 3796, Liisa Larja 029 551 3461, tyovoimatutkimus@stat.fi

Director in charge: Riitta Harala

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Appendix tables

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Quality descriptions

Updated 25.11.2014

Referencing instructions:

Official Statistics of Finland (OSF): Labour force survey [e-publication].
ISSN=1798-7857. October 2014. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/tyti/2014/10/tyti_2014_10_2014-11-25_tie_001_en.html