More young Finns with no job or place to study

Nordea's survey indicates that more young adults in Finland than before are totally jobless or without a place to study. The proportion of young Finns who work or study has remained virtually unchanged since 2007, while the share of 18 - 29-year-olds without a job or place to study has nearly doubled in three years. - Four out of ten respondents now participate in working life. The percentage of those working full-time fell from 38 to 32. Over half of the oldest respondents, ie aged from 26 to 29, have full-time jobs, however. One respondent in twenty works part-time and one in a hundred is an entrepreneur. Despite the economic recession, the number of young adults on parental leave does not seem to have increased, says Anu Numminen, Nordea's Private Economist. Half of young Finns study, which is unchanged since 2007. One in three of the student respondents aged from 22 to 25 also has a sideline job. - The incidence of full-time study with no sideline job appears somewhat higher, however, compared to the survey of three years ago. It is mostly 18 - 21-year- olds who study without working, says Numminen. The employment situation of both those working full-time and students is the best in the Greater Helsinki Area and the weakest in northern Finland. One in ten young Finns with no job or place to study Almost one in ten of the respondents neither worked nor studied, about twice as many as in 2007. Five per cent of the respondents were unemployed. Unemployment seems to affect the youngest men in particular. Although the gender difference is not great, men encounter unemployment more often than women in all age groups. A new phenomenon compared to the previous survey is that those who take "a year off" or travel or those who chose the option "other" in the survey. This group accounted for 4 per cent of the respondents who belonged mainly to the youngest age group of 18 - 21-year olds. Geographically, the most marginalised young adults live in Northern Finland. - A tenth of our young adults now face the threat of remaining outside the society. Youth unemployment is a serious problem that must be tackled efficiently. Vocational studies continuing after completion of basic education needs also to be speeded up, so that the young can enter the job market faster and start building their lives independently, says Anu Numminen. Synovate carried out this survey in August. Young adults aged from 18 to 29 were interviewed in Finland, Sweden, Norway and Denmark; in Finland the number of interviews was 1,000. For further information: Anu Numminen, Private Economist, +358 9 165 88218 Anni Kuusisto, Group Identity & Communications, +358 9 165 42653 [HUG#1456600] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Nordea (Finland) via Thomson Reuters ONE