According to Statistics Finland’s Labour Force Survey, there were 23,000 fewer employed working-age people (aged 15–74) in June compared to the same time last year, and 51,000 more unemployed. The unemployment rate among 15–24-year-olds has risen particularly sharply, partly due to a lackluster summer job market.
In June, the share of unemployed among 15–24-year-olds in the labor force was 22.2%, which is 6.8 percentage points higher than a year ago. However, many in this age group are outside the labor force due to studying, so the overall unemployment rate among the age group’s population was 14.3%.
“There have been fewer summer jobs available again this year than last, and competition for positions has surely been tougher, which partly explains the rise in youth unemployment,” says Tatu Leskinen, Senior Statistician at Statistics Finland.
Employment Decreased Especially Among Women
In June, the trend figure for the employment rate among 20–64-year-olds was 76.1%. The number of employed women declined, although the unemployment rate for men is still slightly higher than for women.
“Women’s employment increased significantly from the beginning of 2021 as the COVID-19 crisis eased. In 2023, for the first time, the annual employment rate for women surpassed that of men. However, since the beginning of the following year, the number of employed women has steadily declined,” Leskinen explains.
In the second quarter, women’s employment decreased most in the wholesale and retail trade sector (-10,000). In the “Other Services” category, which includes activities such as those of associations and NGOs, there were 9,000 fewer employed women than a year ago. The public administration sector also saw 6,000 fewer employed women. Employment increased most in male-dominated sectors such as construction, transportation, and logistics.
“In the second quarter, the share of part-time workers among the employed grew slightly. Among them, the share of those who would prefer full-time work increased significantly. This likely indicates that more people are having to settle for part-time work, even if they would prefer full-time positions,” Leskinen reflects.