Finland's unemployment rate dropped to 6.1 percent in August 2019 from 6.8 percent in the same month the previous year. The number of unemployed persons declined by 16 thousand to 170 thousand while the number of employed rose by 32 thousand to 2.60 million. The activity rate edged up to 67.1 percent in August from 66.8 a year earlier, and the employment rate went up to 73.5 percent from 72.6 percent. Meanwhile, the unemployment rate for young people aged 15 to 24 increased to 14 percent in August from 13.6 percent the prior year. Unemployment Rate in Finland averaged 6.40 percent from 1959 until 2019, reaching an all time high of 19.90 percent in May of 1994 and a record low of 0.70 percent in September of 1961.
Unemployment Rate in Finland is expected to be 6.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Finland to stand at 6.00 in 12 months time. In the long-term, the Finland Unemployment Rate is projected to trend around 5.80 percent in 2020, according to our econometric models.