Unemployment in Finland rises above 280,000 as job openings decrease

In August, the number of unemployed job seekers in Finland exceeded 280,000, representing an increase of over 30,000 compared to the previous year. Concurrently, there were more than 60,000 fewer job openings than in August 2023, as reported in the Ministry of Economic Affairs and Employment’s September employment review.

Antti Soro, CEO of Eilakaisla, highlighted a dramatic shift in the labor market dynamics over the past year. He noted that just a year ago, discussions centered around a shortage of skilled workers, which was seen as a bottleneck for economic growth. Now, the situation has reversed, with a significant influx of job seekers.

Previously, staffing agencies commonly offered recruitment services aimed at attracting top talent for clients. Today, however, with a high volume of applications flooding in, companies are spending much of their time narrowing down candidates.

Tanja Laurila, COO of Academic Work, has observed a similar trend in the recruitment of highly educated candidates, noting that their application numbers have surged by over 50% compared to last year and have nearly tripled since 2021.

Recruitment expert Anne Juusola from Barona mentioned that particularly for entry-level positions not requiring specific qualifications or extensive experience, job postings are receiving hundreds of applications. In August, several openings attracted over 500 applications each.

The ongoing autumn has seen numerous companies initiating restructuring negotiations, likely leading to an even higher number of unemployed job seekers. Juusola added that, despite uncertain times, people are fiercely holding onto their current jobs.

Job seekers are encouraged to share their experiences with the application process, whether positive or negative, via a contact form or directly via email. Responses will be used for future reporting, with confidentiality assured.