Unemployment in Finland

Finland Unemployment | Economic News & Forecasts

Finland - Unemployment

The economy looks set to slide into recession in Q1 2020 as the coronavirus pandemic causes a second successive quarter of contracting activity. Exports fell sharply in January–February as external headwinds dragged on demand for Finnish products, while industrial production contracted markedly across the same period. Turning to Q2, the economic backdrop deteriorated further. Consumer confidence fell to the lowest level in 25 years in April as households' outlook for the coming year darkened significantly, and business sentiment plunged amid significant job losses and deepening concern regarding the health of the services sector. This comes despite news that the spread of the virus has slowed sharply in recent weeks, with the government announcing plans to gradually ease lockdown measures, starting with the reopening of schools on 13 May.

Finland - Unemployment Data

2014   2015   2016   2017   2018  
Unemployment Rate8.7  9.3  8.9  8.6  7.4  

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Finland Unemployment Chart

Finland Unemployment
Note: Unemployment in % of active population.
Source: Statistics Finland.

Finland Facts

Value Change Date
Bond Yield0.033.70 %Dec 30
Exchange Rate8.78-0.38 %Jan 01

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Economic News

  • Finland: Economic activity drops at sharpest rate in over seven years in March

    May 15, 2020

    Economic activity fell 2.7% year-on-year in working-day adjusted terms in March, contrasting February’s revised 1.2% increase (previously reported: +1.0% year-on-year) and marking the sharpest fall since March 2013. The broad-based decline was driven by shrinking output in both the secondary—which includes manufacturing and construction—and services sectors.

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  • Finland: Consumer prices record biggest fall since November 2015 in April

    May 14, 2020

    Consumer prices fell 0.3% in April over the last month, coming in below the 0.2% fall logged in March.

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  • Finland: Current account drops deeper into deficit in March

    May 13, 2020

    The current account deficit grew to EUR 1.2 billion in March, from the EUR 0.5 billion shortfall recorded in both February 2020 (previously reported: EUR -0.4 billion) and March 2019. In the 12 months leading up to March, the current account balance logged a shortfall of EUR 3.3 billion, dropping from February’s EUR 2.6 billion deficit. The merchandise trade balance, however, came in at a EUR 0.2 billion surplus in March having recorded a EUR 0.4 billion deficit in February (March 2019: EUR 0.3 billion).

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  • Finland: Economic activity cools in February with full impact of coronavirus yet to be felt

    April 15, 2020

    Economic activity grew a working-day adjusted 1.0% in February from the same month a year earlier, down from January’s revised 1.4% reading (previously reported: +1.7% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release. The deceleration in February was driven by a steeper fall in the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—which posted a contraction for the sixth month running, and a softer expansion in the services sector.

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  • Finland: Inflation drops lower in March

    April 14, 2020

    Consumer prices dropped 0.2% in March compared with the previous month, reversing February’s 0.3% uptick.

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