Employment situation strengthens right before coronavirus impact

The number of people with jobs rose, and the number of unemployed people dropped between February 2019 and February 2020.

File photo: economy, finance, business and banking / Credit: iStock Photo

Finland’s employment situation strengthened in February compared with the year before – just before the impact of the spreading coronavirus pandemic would become more acute for the national economy and many businesses.

Still, it was a positive sign.

New figures published on Tuesday morning from Statistics Finland show that the number of people employed in February 2020 was 20,000 higher than the year before.

The trend of the unemployment rate is up to 73.4% and the unemployment rate trend is 6.6%.

However, these figures come before the impact of the coronavirus pandemic can be seen yet on employment and unemployment, with tens of thousands of workers facing at least temporary lay-offs, which have already been announced by a number of companies.

Based on seasonally adjusted data for February, the trend of the employment rate has risen continuously since July 2019.

In February 2020, the number of employed people was 2,524,000, which was 20,000 more than a year earlier.

According to Statistics Finland’s Labour Force Survey, there were 187,000 unemployed in February 2020 which was 13,000 fewer than the year before.