More jobs than expected disappearing from domestic industry
Published:
17 February 2003 y., Monday
The Finnish unemployment rate may begin to rise in the near future, as the industrial sector has begun to dismiss more employees than it previously estimated.
Department head Pekka Tsupari from the Confederation of Finnish Industry and Employers (TT) believes that 20,000 jobs may be cut from Finnish industry in 2003. The wholesale and retail sector has also recently warned that some dismissals may be in store later on in the year.
Jarmo Kontulainen from the economics department of the Bank of Finland and researcher Anthony de Carvalho from the Research Institute of the Finnish Economy expect the unemployment rate to rise from around nine to 9.3-9.5 percent in the near future.
The economic climate has been quite weak in Finland for the past two years, but the good financial standing of companies has allowed them to refrain from layoffs. As a recovery has been delayed, the pressure to begin cutting jobs is now mounting. Also, the need to lay off larger numbers is growing at the same time.
According to Tsupari, the employment situation on the industrial side remained quite good until the autumn. By October the number of industrial employees had begun to decline, and if the same rate of dismissals continues, some 20,000 jobs will be lost by next autumn.
In a previous forecast, TT estimated that 12,000-13,000 jobs would be lost in 2003. The industry's current worries include the weak economic outlook in Germany, which is an important target of Finnish exports. Consumption in the UK is also beginning to fall, which could further affect Finnish exports.
Šaltinis:
helsinki.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Today, the Commission published a Communication which outlines the most serious tax problems that EU citizens face in cross-border situations and announces plans for solutions.
more »
The European Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malév-Hungarian Airlines in the context of its privatisation and subsequent renationalisation.
more »
Internet and lax customs enforcement drive growth of 600 billion US dollar counterfeit goods industry.
more »
350 million people rose out of poverty in the past decade, but 1.4 billion are still extremely poor, says the latest report into rural poverty.
more »
New plan sets out action to reach 75% employment target for the EU by 2020.
more »
Research Ministers of the EU Member States and Associated Countries, together with the European Commission, are announcing in Brussels today three new pan–European energy research infrastructures.
more »
Algirdas Šemeta, Commissioner for Taxation, Customs, Audit and Anti-fraud, is visiting Moscow today to discuss ways in which customs cooperation between the EU and Russia can be reinforced.
more »
Following on from Monday's debate with ECB President Jean-Claude Trichet, MEPs on Tuesday adopted a resolution, by a show of hands, gauging the ECB's performance in 2009 and suggesting actions to be taken in view of the economic situation.
more »
The European Parliament today approved €10.5 million in European Globalisation Adjustment Fund aid to over 3,000 people in the Netherlands who lost their printing and publishing sector jobs last year, due to the economic crisis.
more »
A diamond-studded gold coin engraved with a picture of the Taj Mahal and worth 100,000 euros is unveiled at the Paris mint.
more »