Unemployment rate drops in November

A total of 271,300 unemployed jobseekers were registered at the Employment and Economic Development Offices at the end of November, according to the Ministry of Economic Affairs and Employment.

This number was 57,200 less than the corresponding period of the year before. The number of unemployed jobseekers was down by 1,200 from the previous month. These figures are from the Employment Bulletin of the Ministry of Economic Affairs and Employment.

The number of long-term unemployed — that is those who had been unemployed without interruption for at least a year — amounted to 91,800, down 29,700 in the previous year. The number of unemployed jobseekers over 50 years of age was 106,100, or 19,800 fewer than at the same time a year earlier.

Unemployed jobseekers under 25 years of age numbered 32,000, representing a decrease of 8,200 from November last year. Among unemployed young people, the period of unemployment ended within three months on average in 67.5 per cent cases between January and November, which is 4.5 percentage points more than the year before.

The number of new vacancies reported to Employment and Economic Development Offices during November totalled 46,000, or 7,300 more than in November the previous year. In all, the number of unfilled vacancies at Employment and Economic Development Offices in November amounted to 85,500, which was 16,500 more than a year ago.

At the end of November, the number of people laid off was 20,200 in the whole country, which was 11,300 fewer than at the same time the year before. The number of people fully laid off totalled 11,900, representing a decrease of 9,400 from November the year before. The number of advance declarations by employers regarding upcoming lay-offs has decreased. According to the advance declarations, it is possible that 1,500 people will be laid off in the near future, which is 14,300 less than a year ago. The number of upcoming lay-offs increased by 400 from October to November.

At the end of November, the number of persons covered by services included in the activation rate amounted to 127,600, down 1,800 on the previous year. These services include pay subsidies, labour market training, work trials and self-motivated studies.

According to the Labour Force Survey issued by Statistics Finland, in November the number of people in employment was up 83,000 on the previous year. The employment rate was 70.4%, which was 2.7 percentage points higher than in November the year before. According to the Survey, the unemployment total was 190,000 which is 24,000 fewer than a year ago. The unemployment rate was 7.1%, or 1.1 percentage points lower than the previous year.

This information is based on the Ministry of Economic Affairs and Employment’s Employment Service Statistics and monitoring of upcoming lay-offs, and the Labour Force Survey of Statistics Finland. The Employment Service Statistics of the Ministry are compiled on the basis of the information in the Employment and Economic Development Offices’ customer register, while the Labour Force Survey of Statistics Finland is based on sampling.

In the Ministry’s Employment Service Statistics, people that are not in an employment relationship or employed in business are listed as unemployed. Persons fully laid-off but not full-time students are also categorised as unemployed in the Employment Service Statistics.