Stronger employment growth seen in 2018

The growth in employment has been slow in 2017, despite a robust economic growth early in the year.

The employment, however, is forecast to grow faster in 2018, said an official press release.

According to the new labour market forecast, the number of employed people will grow by approximately 15,000 in 2017 compared to 11,000 in 2016. The number of people employed is forecast to grow by about 25,000 in 2018.

The employment rate has been growing slowly. It is forecast to be 69.3 per cent this year and 70.2 per cent next year.

“Employment will grow as the economic growth picks up. Other factors contributing to employment growth are the shrinking working-age population and their more active participation in the labour market. After a long recession, more and more people are becoming active jobseekers,” said Ministerial Adviser Johanna Alatalo.

Employment has begun to edge up slightly in industry. While strong employment is forecast for the construction sector, labour shortages could hold back the growth. The service sector as a whole is experiencing slow employment growth, although there are considerable variations between service branches.