Finland state

Job growth will continue but slow in Finland, ministry predicts

USE in Finland will continue to grow in the coming years, but at a slower pace than recently, indicates a short-term labor market forecast published Wednesday by the Ministry of Economy and Employment.

The ministry expects the employment rate to stand at 73.6% for this year and next before rising by 0.4 percentage points to 74.0% in 2024.

TE offices, she said, will simultaneously experience a drop in the number of registered job seekers.

According to the Ministry of Economy and Employment, one of the factors affecting the labor market situation is the integration of Ukrainian refugees. Refugees will start to be included in official employment and unemployment statistics from next year once they have the right to a municipality of origin in Finland.

Around 30,000 Ukrainians of working age have been granted temporary protection in Finland. Some of them have already registered as unemployed jobseekers, but their number is expected to increase by around a thousand each month.

Elina Pylkkänen, Undersecretary of State at the Ministry of Economic Affairs and Employment, said the Ukrainians were providing a much-needed injection of manpower. Getting skilled labor to employers struggling with labor supply issues, she added, will test the efficiency of Finland’s education systems. and employment services.

It remains difficult to estimate how many of them will remain in the country and in the labor force, Minna Ylikännö, a special expert from the Ministry of Economic Affairs and Employment, said at a press conference in Helsinki on Wednesday. The short-term forecast is based on the assumption that about 5,000 Ukrainians enter the labor market.

“When you think about the structure of the population, there would be a lot more room for labor and working age people in our country,” she said. saying quoted by STT.

While the Ministry of Economy and Employment expects labor supply problems to ease, they will not disappear completely. Pylkkänen revealed that the department estimates the issues have resulted in 130,000 new employment relationships not being completed in recent years.

“All of this is economic growth that we have lost,” she added.

The older age brackets should slightly mitigate the situation, as employment of 65-74 year olds should continue to increase. The employment rate for the age group currently stands at around 14 percent.

Aleksi Teivainen – HT