The Labour Market in Finland
Current Climate: July 2024 figures, and outlook for 3rd Quarter 2024
The current Finnish labour market shows pretty discouraging numbers across-the-board compared to one year ago. Unemployment is up, though the number of employed is also up. The amount of long-term unemployed increased significantly. The inactive population decreased. Once again, the amount of unemployed foreigners increased significantly.
For the 3rd Quarter 2024,Finland's employment outlook is the same as the global average.
Data Sources: Reported unemployment figures can vary significantly. Unemployment in Finland is monitored through two different monthly statistics; the Ministry of Economic Affairs and Employment compiles its data from actual job seekers registered with local employment offices, while Statistics Finland bases its findings on statistical samples.
Unemployment:
Statistics Finland's Labour Force Survey for July 2024 reports the number of unemployed persons was 229,000, which is 34,000 higher than July 2023. The unemployment rate was 7.9%, up from 6.9% in July 2023. The number of employed persons was 2,680,000, which was 54,000 more than a year earlier - comprising 49,000 more employed men and 5,000 more employed women.
Inactive Population: There were 1,241,000 persons aged 15 to 74 in the inactive population in July 2024, which was 66,000 fewer than a year earlier.
Source: Statistics Finland 2024
The Ministry of Economic Affairs and Employment Employment Bulletin, July 2024 reported 306,000 unemployed job seekers at the end of July; this is 27,200 more than a year earlier. They accounted for 11.4% of the labour force, which is 0.9% more than a year before. In July, 20,900 people were fully laid off, which is 2,500 more than a year earlier. Furthermore, jobseekers on a reduced working week numbered 7,900 - an increase of 3,200 from the year before.
Long-term Unemployment: The Ministry's figures show 98,623 people out of work for a year or more, an increase of 6,435 from the year before. People unemployed without interruption for more than two years numbered 52,200, which is 3,000 more than a year previously.
Education Levels: Unemployment decreased at only one level of education; those with lower level basic qualifications (-12%). Unemployment increased the most among those with education level unknown (18%), lowerdegree level tertiary education (18%), doctoral
level education (17%), higherdegree level tertiary education (11%) and postsecondary nontertiary education (10%).
Unemployed Foreigners: The number of foreign citizens among unemployed jobseekers totalled 49,500, up 7,000 from July a year ago. Of these foreign unemployed
jobseekers, EU/EEA citizens accounted for 10,900 at the end of July, up 1,200 from the year before.
Source: Ministry of Economic Affairs and Employment Employment Bulletin: July 2024
Alternative Download: VALTO: Institutional Repository for the Government - search "Employment Bulletin"
Employment Outlook:
ManpowerGroup no longer offers access to its full Employment Outlook Survey for Finland, however they do still provide brief (increasingly brief) data for Finland's Net Employment Outlook.
Q3 2024, Finland
Hiring expectations for July-September 2024 are average. The Net Employment Outlook for Finland is +22%, down 1% from a year previously and the same as the Global Net Employment Outlook of 22%.
Employer Hiring Intentions (forecast change in number of payrolls):
Increase: data not provided
Decrease: data not provided
No change: data not provided
Don't know: data not provided
Source: ManpowerGroup
Issues for Foreign Job Seekers
In this employment climate anyone hoping to find work in Finland has to expect a challenge. Additionally, foreign job seekers should be prepared to address the following issues:
Finnish Language Skills
The biggest and most important issue for a foreigner is usually language. There are very few jobs where it is possible to work without knowing any Finnish, and for reasons of occupational safety alone it is vital to be able to communicate. Local authorities, universities and and many employers provide immigrants and their families with language training, either free or at very low cost. The level of Finnish skills necessary for a job depends greatly on the nature of the work, but on average six months of intensive language training should provide enough skill in Finnish to get by at the average workplace.
Source: thisisFINLAND
Qualifications
Finland sets great value on vocational training, and statutory (official) qualification requirements exist in many fields and positions. If you intend to work in Finland using a qualification gained outside Finland, it is essential that you check in advance that your foreign qualification is officially accepted in Finland.
What's the Alternative?
If you have the right to do so, starting your own business in Finland is definitely worth considering rather than fighting in an increasingly competitive job market. All you need is motivation and something saleable; the process for establishing a business is easy. Plus, if you are unable to speak Finnish but can speak English or Swedish, the language barrier referred to above is significantly reduced.
See: Entrepreneurship
