Finland's unemployment rate dropped to 6.2 percent in June 2019 from 6.7 percent in the same month the previous year, as the number of unemployed persons declined by 16 thousand to 176 thousand while the number of employed edged up by 1 thousand to 2.67 million. The activity rate slipped to 69.1 percent in June from 69.5 a year earlier, while the employment rate edged higher to 75.7 percent from 75.5 percent. Meanwhile, the unemployment rate for young people aged 15 to 24 increased to 15.2 percent in June from 14 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 7.80 in 12 months time. In the long-term, the Finland Unemployment Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.