Bank predicts: recession leaves 100,000 unemployed in Finland

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The Nordea Bank predicts that the recession can lead to about 100,000 positions being cut down in Finland in the upcoming years. However, Nordea Bank’s economist Reijo Heiskanen says  the unemployment rate will rise relatively slowly, due to a lot of work force retiring.
Nordea Bank said Tuesday that with 100,000 positions being cut down, unemployment rates could easily rise to about 10 percent in Finland, if it wasn’t for the big retiring age group. Now, Nordea Bank predicts unemployment rate will reach 8,0 per cent in Finland in 2009. To read more on the subject from Taloussanomat link

Recession starting to show in unemployment rates
According to the Labour Force Survey of Statistics Finland, recession did not markably show in the rates of unemployment yet in December 2008. At 6,1 per cent the unemployment rate was only 0,1 percentage points higher than one year before. The number of employed people in December stayed on the same level as last year, about 2,500,000.
Roughly 4,000 persons had been laid off in the third quarter of 2008. This number rapidly started growing towards the end of the year and the number of people who had lost their jobs multiplied to 14,000. Simultaneously, the rate of growth of employment started to slow down.
In agreement to the increasing amount of people losing their jobs, the rate of job seekers is growing. By the end of December 2008 over 230,000 were registered as unemployed job seekers. The number is  15,000 higher than December 2007.

Statistics:Link

Throughout autumn and winter  Finnish companies have announced lay offs and cuts in employees. Monday was a dark day for work force in Finland, with 10,000 people being told of cooperation negotiations. These companies include Stora Enso and Metso. Just last week, 6,000 people were given notifications of lay offs and firings.

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Not only negative forecasts
However, not all fields have bleak prognoses, and there are still places where you can find a job. Bus drivers, cleaners,superintendents and legal and financial consultants still have plenty of demand. Lodging,nutrition, security and technological service are also fields in which jobs can be acquired.

Yle news in english 20.01.2009

To see Mtv3 news on the subject link

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