EMPLOYMENT RATE Employed/Working age population (15 64 years)

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1 EMPLOYMENT RATE Employed/Working age population (15 64 years 8 % Finland 75 EU 15 EU ** 6** /SAK /TL Source: European Commission 1

2 UNEMPLOYMENT RATE % Finland EU 15 EU * 5** /SAK /TL Source: Europen Commission 2

3 EMPLOYMENT RATE IN EU COUNTRIES 24 Q3 Employed/Working age population (15 64 years EU 25 EU 15 Denmark Netherlands Sweden United Kingdom Finland Cyprus Austria Portugal Ireland Slovenia Germany Czech R. France Estonia Latvia Luxembourg 1 Lithuania Spain Belgium Greece 2 Italy Slovakia Hungary Malta Poland 1 23/3 2 24/ /SAK /TL % S ource: Eurostat; Labour Force Survey 3

4 UNEMPLOYMENT RATE IN EU COUNTRIES 25 EU 15 EU 25 Poland Slovakia Greece Spain Lithuania Germany Latvia France Estonia Finland Czech R. Italy Belgium Malta Portugal Hungary Sweden Slovenia Netherlands Denmark Cyprus United Kingdom Ireland Luxembourg Austria /SAK /TL % Source: Eurostat 4

5 LONG TERM UNEMPLOYED :2 16 Pers /SAK /TL Source: Ministry of Labour 5

6 DIFFERENT TYPES OF EMPLOYEE RELATIONSHIPS Febryary 25 Permanent full time job 766% /SAK /TL 91% 4% 13% Permanent part time job New employment contracts (Signed during previous 12 months Permanent full time job 4 % Permanent part time job 124 % Fixed term full time job 318 % Fixed term part time job 159 % Source: Statistics Finland Fixed term part time job Fixed term full time job 6 % 6

7 PART TIME WORKERS IN EU COUNTRIES 24 Q3 Over 15 years EU 25 EU 15 Netherlands United Kingdom Sweden Denmark Germany 1 Belgium Austria Ireland France Luxembourg 1 Finland Italy Portugal Poland Slovenia Latvia Malta Spain Cyprus Estonia Lithuania Czech R. Hungary Greece Slovakia 1 23/3 2 24/ /TL % of employed Source: Eurostat; Labour Force Survey 7

8 FIXED TERM CONTRACTS IN EU COUNTRIES 24/ Q3 EU 25 EU 15 Spain Poland Portugal Slovenia Finland Sweden Netherlands France Cyprus Italy Greece Germany 1 Denmark Austria Belgium Latvia Czech R. Hungary Lithuania United Kingdom Slovakia Ireland Malta Luxembourg 1 Estonia 1 23/3 2 24/ /TL % of employed Source: Eurostat; Labour Force Survey 8

9 GROSS DOMESTIC PRODUCT Change in volume % Finland EU ** /SAK /TL Source: Statistics Finland OECD Ministry of Finance 9

10 GROSS DOMESTIC PRODUCT IN EU COUNTRIES 25** /SAK /TL EU 15 EU 25 Latvia Estonia Lithuania Poland Ireland Slovakia Cyprus Czech Hungary Slovenia Luxembourg Greece Sweden Finland United Kingdom Spain Belgium Austria Denmark Portugal France Italy Netherlands Malta Germany Source: European commission % 1

11 LABOUR PRODUCTIVITY Change in volume % Finland EU 15 EU ** 5** 6** /SAK /TL Source: European commission 11

12 CONSUMPTION Change in volume % Private 4 Public * 5** /SAK /TL Source: Statistics Finland Ministry of Finance 12

13 INVESTMENTS Change in volume % Private Public * 5** /SAK /TL Source: Statistics Finland Ministry of Finance 13

14 RATIO OF INVESTMENTS TO GDP % * 5** /TL Source: Statistics Finland Ministry of Finance 14

15 IMPORTS AND EXPORTS OF GOODS AND SERVICES Change in volume % Exports Imports * 5** /SAK /TL Source: Statistics Finland Ministry of Finance 15

16 CURRENT ACCOUNT Relative to GDP 8 % Finland EU * 5** /SAK /TL Source: Statistics Finland Ministry of Finance OECD 16

17 EMPLOYEES NOMINAL AND REAL EARNINGS AND HOUSEHOLDS REAL DISPOSABLE INCOME Change % * Nominal earnings Real earnings Households real disposable income ** * * * * ** * * * * * * ** * * * * * * 5** /SAK /TL Source: Statistics Finland Ministry of Finance 17

18 WAGES AND SALARIES Q4 Q4 All employees 2 % 15 Negotiated wage Wage drift ** /SAK /TL Source: Statistics Finland Incomes Policy Commission 18

19 WAGES AND SALARIES Q4 Q4 Manufacturing workers 2 % 15 Negotiated wage Wage drift ** /SAK /TL Source: Statistics Finland Incomes Policy Commission 19

20 EMPLOYEES REAL DISPOSABLE INCOME Change from previous year 1 % ** /TL Source: Incomes Policy Commission 2

21 TOTAL NOMINAL LABOUR COSTS (private sector change compared to same quarter a year earlier 7 % Finland EU 15 EU /SAK /TL Source: Eurostat 21

22 TOTAL NOMINAL LABOUR COSTS (industry change compared to same quarter a year earlier % Finland EU 15 EU /SAK /TL Source: Eurostat 22

23 LABOUR INCOME AS A PERCENTAGE OF NATIONAL INCOME % Wages and social contributions * /SAK/TL Source: Statistics Finland Ministry of Finance 23

24 INCOME DIFFERENCES BETWEEN HOUSEHOLDS Disposable incomes (Index 1987 = = Index is based on the gini coefficient a higher value of the gini coefficient implies a more unequal income distribution /SAK /TL Source: Statistics Finland 24

25 WOMENS ANNUAL EARNINGS AS A PERCENTAGE OF MENS ANNUAL EARNINGS % !!!!!!!!!!!!!!!! 7 65!! **3** /SAK /TL Source: Statistics Finland 25

26 TAX RATE % of GDP ** /SAK /TL Source: Statistics Finland Ministry of Finance 26

27 TAX RATE IN SOME COUNTRIES /TL Sweden Denmark Belgium Finland France Italy Austria Luxembourg Czech R. Netherlands Hungary 1 Germany Greece 1 Spain United Kingdom Portugal 1 Slovakia 1 Poland 1 Ireland % of GDP Source: OECD Revenue Statistics 27

28 INCOME TAX RATE AS A PERCENTAGE OF MANUFACTURING WORKERS AVERAGE GROSS INCOME IN SOME COUNTRIES 23 Denmark Belgium Netherlands Poland Finland Sweden Austria Italy France Hungary United Kingdom Czech R. Luxembourg Slovakia Spain Portugal Ireland Greece Includes employees social security contributions Example: a single person with no children /TL Source: OECD Taxing Wages % of gross earnings 28

29 MANUFACTURING PRODUCTION Change in volume % * 5** /SAK /TL Source: Statistics Finland Ministry of Finance 29

30 CONSUMER PRICES IN FINLAND AND EU COUNTRIES Change % Finland EU 15 EU * 5** /SAK /TL Source: OECD 3

31 CONSUMER PRICES IN EU COUNTRIES 24 EU 25 EU 15 Slovakia Hungary Latvia Poland Slovenia Luxembourg Spain Greece Estonia Malta Czech R. Portugal Ireland Italy France Austria Belgium Cyprus Germany Netherlands United kingdom Lithuania Sweden Denmark Finland annual change % /SAK /TL Source: Eurostat 31

32 INTEREST RATES IN FINLAND 1992:1 25: % Euribor 3 months 1 Finnish government bonds 1 year Helibor /SAK /TL Source: Bank of Finland 32

33 REAL AVERAGE LENDING RATE FOR HOUSING LOANS 1992:1 25:2 14 % Nominal Real /SAK /TL Source: Bank of Finland 33

34 HELSINKI STOCK INDEX (HEX 1995:1 25: = /SAK /TL Source: Statistics Finland Bank of Finland 34

35 CENTRAL GOVERNMENT REVENUE AND EXPENDITURE EXKLUSIVE OF INVESTMENTS :11 12 month moving total 32 % of GDP 3 28 Revenue Expenditure /SAK /TL Source: Bank of Finland 35

36 CENTRAL GOVERNMENT NET LENDING % of GDP * 5** /SAK /TL Source: Statistics Finland Ministry of Finance 36

37 CENTRAL GOVERNMENT DEBT % of GDP ** 5** /SAK /TL Source: Statistics Finland Ministry of Finance 37

38 GENERAL GOVERNMENT EXPENDITURE % of GDP Finland Eu 15 EU_ * 6** /SAK /TL Source: Eurostat 38

39 GENERAL GOVERNMENT NET LENDING (EMU % of GDP Finland EU 15 EU * 5** /SAK /TL Source: Eurostat 39

40 GOVERNMENT GROSS DEBT (EMU % of GDP Finland EU 15 2 EU * 5** /SAK /TL Source: Statistics Finland Ministry of Finance 4

41 KEY FORECAST FIGURES change % * 24** 25** GDP IMPORTS EXPORTS CONSUMPTION Private Public INVESTMENT Private Public Services change in volume % Manufacturing change in vol. % Labour productivity change % Employment rate % Unemployment rate % Consumer prices change % Wage and salary earnings change % Current account % of GDP Interest rates Helibor/Euribor 3 month % Interest rates Gov. bonds 1 year % General government expenditure % of GDP Tax ratio % of GDP Central government debt % of GDP Central government gross dept % of GDP Central government net lending % of GDP General government net lending (EMU % of GDP /SAK /TL Source: Statistics Finland Ministry of Finance 41

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