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
The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people.
more »
Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment.
more »
The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn.
more »
The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country.
more »
The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF).
more »
Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
more »
Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday.
more »
Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date.
more »
75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU.
more »
The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia.
more »