Trend of employment rate drops slightly, remains close to 72% target

The Finnish government remains within touching distance of its employment rate target of 72 per cent.

Statistics Finland on Tuesday revealed that the national employment rate increased by 2.1 percentage points year-on-year to 71.4 per cent in September, following an increase of 72,000 in the number of the employed and a decrease of 44,000 in the number of the unemployed.

A total of 2,533,000 people were employed and 170,000 unemployed in Finland in September.

The trend of the employment rate, however, has decreased moderately in recent months, falling from 71.9 per cent in July to 71.7 per cent in September.

“This isn’t what was supposed to happen,” lamented Jukka Appelqvist, an economist at Danske Bank.

“It looks like the figures for the summer were bloated by summer jobs. What’s positive is that the number of the unemployed was 20.6 per cent lower than one year ago in September,” added Appelqvist.

Pasi Kuoppamäki, the chief economist at Danske Bank, commented on the results of the labour force survey in an e-mail to Uusi Suomi, saying labour market indicators are no longer improving as rapidly as earlier this year because economic growth is slowing down slightly and it is becoming more difficult to find qualified applicants for job vacancies.

Kauppalehti reminds that there was no shortage of doubters as the government announced its objective of raising the employment rate from below 68 to 72 per cent after taking office in the first half of 2015.

Read more news of Helsinki on our site.

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