Unemployment has gone down in Finland despite the Eurozone crisis
The number of unemployed fell slightly from June 2011 to June 2012, Statistics Finland reports. Also, the trend in the unemployment rate has taken a downward turn following the 2008/2009 recession.Will this positive trend continue in the near future? Much depends on the ultimate outcome of the Eurozone crisis, as Finland's economy is very dependent on the development of its export markets, especially to Sweden, Germany and several other EU Member States, as well as Russia.
Under these grave circumstances the government of Prime Minister Jyrki Katainen has worked hard to try and stabilize the economies of the Eurozone and the entire EU area. The chosen strategy has rapidly increased the amount of risk loans and guarantees given to crisis-hit countries and Eurozone's new stabilizing instruments.
The opposition parties (True Finns or The Finns Party and the Centre Party) have sought to attack the strategy of the government, but their all-too-often populist driven criticism has not weakened the six-party government's resolve. The prevalence of the relatively low unemployment rate (in comparison with the situation in other crisis-hit Eurozone countries) has helped the government to defend its policy and not bend under pressure from the opposition parties.
Helsinki, 1.8.2012 byJuhani Artto
• Unemployment rate 7.9 per cent in June, Statistics Finland 24.7.2012
Employment Bulletin of the Finnish Ministry of Employment and the Economy, June 2012