Statistics Finland on Friday published its latest labour force survey , reporting that the trend of the employment rate stood at exactly 72.0 per cent in November. The number of the employed was 38,000 higher than in November 2017, with 18,000 men and 20,000 women having joined the ranks of the employed.

“A great piece of news for Christmas,” tweeted Prime Minister Juha Sipilä (Centre). “The government has now reached its employment target of 72 per cent. This calls for some light celebrations in the garage today, as I have promised. Merry Christmas to everyone!”

The ranks of the unemployed, in turn, decreased by 22,000 year-on-year to 168,000. Most, or 101,000 of the unemployed were men and the remaining 67,000 women.

Raising the employment rate to 72 per cent was one of the key objectives of the government. Many, however, doubted the feasibility of the objective as the rate stood at below 68 per cent as the government took office in the spring of 2015.

The employment rate is believed to have improved partly as a consequence of the competitiveness pact and partly as that of the activation model for unemployment security, while being supported also by the rapid global and domestic economic growth.

Aleksi Teivainen – HT

Source: Uusi Suomi