Finland’s unemployment rate reached 10% in August 2025, marking the highest level in at least 15 years, according to Statistics Finland. This alarming increase reflects a broader struggle within the Finnish economy to cope with ongoing stagnation.
On a European scale, only Spain’s unemployment rate, which stood at 10.29%, is higher than Finland’s recent statistics, as reported for the second quarter of this year. The Finnish economy is grappling with the repercussions of global economic uncertainties fueled by the ongoing war in Ukraine, which has severely impacted trade, especially with neighboring Russia.
The economic downturn is evident, with a contraction of 0.9% in 2023 and a modest growth of 0.4% in 2024, while the finance ministry projects a sluggish growth of just 1% for this year. Since June, unemployment rates have been on the rise again after a slight dip in May, culminating in August’s distressing figures.
In response to this economic malaise, the three-party right-wing coalition government has implemented austerity measures to address the growing public deficit. These decisions, however, have further dampened economic growth, resulting in job losses. Finland’s budget deficit is now projected to rise to 4.3% of GDP, exceeding the EU’s cap of 3%, and the national debt ratio is anticipated to reach 86.9% of GDP, well above the EU goal of 60%.
Finance Minister Riikka Purra of the nationalist Finns Party defended the government’s policies, characterizing the deficit as a „chronic problem“ that necessitates urgent action. She underscored that „unemployment is our biggest problem at the moment,“ emphasizing the need for prudent financial management amid efforts to stabilize the country’s economic structure.
Chcete využít této příležitosti?
Zanechte svůj telefon a email a budete kontaktováni licencovanými odborníky
