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Finland posts worst unemployment figures in 13 years

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Finland posts worst unemployment figures in 13 years

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Finland posted its worst unemployment figures in 13 years in May, up 1.5% compared to March and April to reach 11.8%.

That’s a 1.1% increase year-on-year, and worse than forecast.

Youth unemployment soared to 36.3%, up from 28.6% in April.

Last week Finland revised its 2015 GDP growth figures down to 0.3% as the finance ministry noted that exports were struggling to return to healthy levels, and that the continued high unemployment was dragging the economy back.

Slightly better figures are expected for 2016 and 2017, when growth is forecast to hit 1.4%.