Employment increased in June 2022 from one year ago

Employed and employment rate

In June 2022, the number of employed persons was 2,729,000 (margin of error ±35,000), which was 52,000 more than a year earlier. There were 50,000 more employed women than in June 2021, and the number of employed men remained almost unchanged compared to the year before.

In June, the employment rate of persons aged 15 to 64, that is, the proportion of the employed among persons aged 15 to 64, stood at 76.9 per cent, having been 75.8 per cent one year earlier. From June in the previous year, the employment rate of women aged 15 to 64 rose by 2.0 percentage points to 77.2 per cent and the employment rate of men rose by 0.3 percentage points to 76.6 per cent. The employment rate of people aged 20 to 69 was 73.8 per cent, having been 72.3 per cent in the year before.

Unemployed and unemployment rate

According to Statistics Finland's Labour Force Survey, there were 200,000 unemployed (margin of error ±24,000) in June 2022, i.e., 21,000 fewer than one year before. The number of unemployed men was 103,000 and that of women 96,000.

In June, the unemployment rate, i.e., the proportion of the unemployed among the labour force, stood at 6.8 per cent, having been 7.6 per cent one year earlier. From June in the previous year, men’s unemployment rate decreased by 1.3 percentage points to 6.9 per cent and women’s by 0.2 percentage points to 6.7 per cent.

In June, the unemployment rate for people aged 15 to 24 stood at 15.0 per cent, which was 1.0 percentage points lower than one year previously. The trend of the unemployment rate among young people was 12.5 per cent. The proportion of unemployed young people aged 15 to 24 among the population in the same age group was 10.4 per cent.

Inactive population

There were 1,190,000 persons aged 15 to 74 in the inactive population in June 2022, which was 35,000 fewer than one year earlier.

Seasonally adjusted trend

Employment and unemployment vary quite much by month and the change from the observation of the previous month mainly describes the seasonal aspect rather than the trend in development. Thus, the latest statistical data are compared to the corresponding period of the year before. By contrast, the figures of the trend series that are adjusted for seasonal and random variation are mutually comparable and phenomena associated with long-term development and cyclical changes are thus more easily observable from the trend of the time series.

The trend usually changes somewhat when the data of the following month are included in the time series. Therefore, only the last published time series should be used when using the trend figures. The preliminary nature of the latest trend figures should be considered when making conclusions. The fall in employment in spring 2020 was interpreted as a level shift in the seasonal adjustment model. The figures reported in this release are not adjusted for seasonal variation unless separately mentioned that they concern the trend.

Links

Ministry of Economic Affairs and Employment’s Employment bulletin

Comparison between the employment statistics of Statistics Finland and the Ministry of
Economic Affairs and Employment