There were 10,000 more men and 19,000 more women in August than a year ago.
Finland’s employment rate remained almost exactly the same in August compared to July, according to Statistics Finland. The figure for August was 73.6%, up a fraction from the 73.5% recorded in July.
Statistics Finland found that there were 30,000 more people employed this year than in August last year.
According to the digital computing firm, unemployment figures were slightly higher than in July, but overall remained unchanged, with the figure falling from 7.0% to 7.1%. There were 8,000 more unemployed than a year ago.
In August, the employed population was 2.6 million and the unemployed population was 190,000.
The simultaneous increase in unemployment and employment is explained by the fact that the number of people aged 15 to 74 in the active population has increased and the number of inactive people has decreased. The inactive population includes school children, students, pensioners and conscripts.
The increase in employment since August of last year was more for women than for men. There were 10,000 more men and 19,000 more women than a year ago.
The unemployment rate for women and men increased by 0.2 percentage points at equal rates, but the unemployment rate for men was significantly higher than that for women at 7.0% against 6.3%.
Likely to continue
Patrizio LainaChief economist at the Finnish Confederation of Professionals (STTK) found this stagnation a sign of what is to come over the next few months.
“The energy crisis has halted the positive development of employment and unemployment. Employment is likely to decline slightly in the near future as GDP growth slows,” Lainà told Yle News. .
Lainà added that there are steps the government can take to deal with what is expected to be a financial downturn.
For example, supporting the purchasing power of households through benefits and tax deductions is one of the means proposed by Lainà.
“However, more needs to be done. For example, the government should cap electricity prices and introduce a one-off tax for electricity generators. Moreover, the time would be right to transfer employees’ social security contributions to employers,” explained Lainà.
According to Lainà, this supports the purchasing power of employees, thus contributing to employment.