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Financial News: Finland Jobless Rate At 1-Year High

Finland Jobless Rate At 1-Year High

06/20/2017 - 02:26:00 (RTTNews)

(RTTNews) - Finland's unemployment rate increased further in May to the highest level in one year, figures from Statistics Finland showed Tuesday.

The jobless rate climbed to 10.7 percent in May from 10.2 percent in April.

Moreover, the latest unemployment rate was the strongest since May 2016, when it marked 10.8 percent.

The number of unemployed people grew to 297,000 in May from 279,000 in April. A year ago, the jobless figure totaled 298,000.

The youth unemployment rate, which applies to the 15 to 24 age group, rose to 33.6 percent in May from 27.4 percent in the prior month.

The employment rate came in at 69.4 percent in May, up from 68.6 percent in April.

At the same time, the seasonally adjusted jobless rate held steady for the third straight month at 8.8 percent in May.

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