Finland unemployment grew in September

Finland unemployment rate grew in September to 7.7%, after reporting a decrease during the last three consecutive months. The unemployment rate in August was 7.2%, which was the lowest level in more than 2 years. The number of jobless people grew to 204,000 people in September from 195,000 during the previous month. However, the figures are pretty encouraging on year-on-year basis, as during the same month last year, the unemployment rate was 8.4% with 225,000 jobless people.

The seasonally adjusted unemployment rate decreased slightly to 8.6% in September from 8.7% a month earlier, but economists and market participants expected more aggressive solutions from the Finland’s government in treatment of unemployment problems.

The country’s business is creating less jobs during the reported month and employment rate dropped to a level of 59.9% in September, from 60.8% in August.

The youth unemployment rate remains high and one of the biggest problems for the country, climbing to 16.5% in September, from 11.8% in August. The Northern and Eastern part of the country are highest affected by the youth unemployment, as the rate exceeded 25% during the last year. Finland may receive money from the European Union budget to treat the problem of youth unemployment in Northern and Eastern parts of the country.

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