Unemployment figures continue to fall

New figures out today show falls across all metrics of measuring unemployment.

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File Photo showing Ministry of Economic Affairs and Employment in Helsinki / Credit: TEM

Unemployment across all metrics continues to fall, according to the latest figures released today by Statistics Finland and the Economic & Employment Development Office TE Palvelu.

Statistics Finland puts the overall unemployment rate at 6.3% which is down 1.1% from the third quarter in 2017. For comparison, the average unemployment rate for eurozone countries is hovering around 8% this year.

TE Palvelu registered a total of 232,100 people out of work and looking for jobs at the end of September, that’s down 43,500 from the previous year, and a fall of 11,200 from the previous month.

The number of long term unemployed people – those who had been out of work uninterrupted for at least a year – also fell to 70,300. That’s down by 27,900 from the year before.

There are currently 29,100 young people under 25 who are out of work and looking for a job, a decrease of 4300 from last September.

More job vacancies

The number of new job vacancies reported to TE Palvelu is 50,500 or a thousand more than a year ago, and there were 100,600 unfilled jobs in Finland in September according to the latest figures.

The methodology between the two organisations differs for how they count the number of unemployed people. Statistics Finland bases their figures on a representative sample; while TE Palvelu counts the actual numbers of people.