Finland's unemployment rate dropped to 6.2 percent in November 2018 from 7.1 percent in the same month of the previous year. The number of unemployed declined by 22 thousand to 168 thousand while the number of employed went up by 38 thousand to 2.53 million. Also, the activity rate rose to 65.5 percent in November from 65.2 percent a year ago. Meanwhile, the unemployment rate for young people aged 15 to 24 fell to 12.5 percent from 14.9 percent in the preceding year. Unemployment Rate in Finland averaged 6.39 percent from 1959 until 2018, 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 7.40 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 7.20 in 12 months time. In the long-term, the Finland Unemployment Rate is projected to trend around 7.10 percent in 2020, according to our econometric models.