Number of unemployed people with higher education increased again – "The rise shows no sign of slowing down"

The article is translated with DeepL.

The deterioration in the labour market continued in September and there are no signs of a turn for the better. This is how Pasi Sorjonen, Akava's Chief Economist, summarised the situation on the Finnish labour market in an Akava's webcast on 23 October.

According to Sorjonen, the number of unemployed people with higher education has already passed the peak of the COVID period and is dangerously approaching the previous peak, the highest level of 2016.

There were around 7,900 more unemployed people with tertiary education in September than a year earlier and 11,850 more than two years ago.

"The rise shows no sign of slowing down," Sorjonen said in the webcast.

There are also 1,100 more university graduates laid-off than at the same time last year.

Sorjonen said that the fact that the number of all unemployed people also continued to rise was worrying for the employment trend of those with higher education, because usually the number of unemployed people with higher education only starts to fall after the overall number of all unemployed people has started to fall.