EMPLOYMENT RATE 198 26 Employed/Working age population (15 64 years 8 % Finland 75 EU 15 EU 25 7 65 6 55 5 8 82 84 86 88 9 92 94 96 98 2 4** 6** 14.4.25/SAK /TL Source: European Commission 1
UNEMPLOYMENT RATE 1985 26 2 % 15 1 5 Finland EU 15 EU 25 85 87 89 91 93 95 97 99 1 3* 5** 14.4.25/SAK /TL Source: Europen Commission 2
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 24/2 14.4.25/SAK /TL 1 2 3 4 5 6 7 8 % S ource: Eurostat; Labour Force Survey 3
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 14.4.25/SAK /TL 5 1 15 2 % Source: Eurostat 4
LONG TERM UNEMPLOYED 1991 25:2 16 Pers. 14 12 1 8 6 4 2 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 7 1 91 92 93 94 95 96 97 98 99 1 2 3 4 5 14.4.25/SAK /TL Source: Ministry of Labour 5
DIFFERENT TYPES OF EMPLOYEE RELATIONSHIPS Febryary 25 Permanent full time job 766% 14.4.25/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
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 24/2 14.4.25/TL 1 2 3 4 5 % of employed Source: Eurostat; Labour Force Survey 7
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 24/2 14.4.25/TL 5 1 15 2 25 3 35 % of employed Source: Eurostat; Labour Force Survey 8
GROSS DOMESTIC PRODUCT 1985 25 8 Change in volume % 6 4 2 2 4 6 Finland EU 15 8 85 87 89 91 93 95 97 99 1 3 5** 14.4.25/SAK /TL Source: Statistics Finland OECD Ministry of Finance 9
GROSS DOMESTIC PRODUCT IN EU COUNTRIES 25** 14.4.25/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 1 2 3 4 5 6 7 Source: European commission % 1
LABOUR PRODUCTIVITY 1996 26 4 3 Change in volume % Finland EU 15 EU 25 2 1 1 96 97 98 99 1 2 3 4** 5** 6** 14.4.25/SAK /TL Source: European commission 11
CONSUMPTION 1985 25 6 Change in volume % 4 2 2 Private 4 Public 6 85 87 89 91 93 95 97 99 1 3* 5** 14.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 12
INVESTMENTS 1985 25 Change in volume % 2 1 1 2 Private Public 3 85 87 89 91 93 95 97 99 1 3* 5** 14.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 13
RATIO OF INVESTMENTS TO GDP 1985 25 35 % 3 25 2 15 1 5 85 87 89 91 93 95 97 99 1 3* 5** 14.4.25/TL Source: Statistics Finland Ministry of Finance 14
IMPORTS AND EXPORTS OF GOODS AND SERVICES 1985 25 2 Change in volume % 15 1 5 5 1 Exports Imports 15 85 87 89 91 93 95 97 99 1 3* 5** 14.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 15
CURRENT ACCOUNT 1985 25 Relative to GDP 8 % 6 4 2 2 4 6 Finland EU 15 85 87 89 91 93 95 97 99 1 3* 5** 14.4.25 /SAK /TL Source: Statistics Finland Ministry of Finance OECD 16
EMPLOYEES NOMINAL AND REAL EARNINGS AND HOUSEHOLDS REAL DISPOSABLE INCOME 1985 25 15 1 5 Change % * Nominal earnings Real earnings Households real disposable income ** * * * * ** * * * * * * ** * * * * * 5 85 87 89 91 93 95 97 99 1 3* 5** 14.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 17
WAGES AND SALARIES 1975 24 Q4 Q4 All employees 2 % 15 Negotiated wage Wage drift 1 5 8 82 84 86 88 9 92 94 96 98 2 4** 15.4.25/SAK /TL Source: Statistics Finland Incomes Policy Commission 18
WAGES AND SALARIES 1975 24 Q4 Q4 Manufacturing workers 2 % 15 Negotiated wage Wage drift 1 5 8 82 84 86 88 9 92 94 96 98 2 4** 15.4.25/SAK /TL Source: Statistics Finland Incomes Policy Commission 19
EMPLOYEES REAL DISPOSABLE INCOME 198 25 Change from previous year 1 % 8 6 4 2 2 4 6 8 1 8 82 84 86 88 9 92 94 96 98 2 4** 15.4.25/TL Source: Incomes Policy Commission 2
TOTAL NOMINAL LABOUR COSTS (private sector 1997 24 change compared to same quarter a year earlier 7 % 6 5 4 3 2 1 Finland EU 15 EU 25 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 97 98 99 1 2 3 4 15.4.25/SAK /TL Source: Eurostat 21
TOTAL NOMINAL LABOUR COSTS (industry 1997 24 change compared to same quarter a year earlier 7 6 5 4 3 2 1 1 % 12341234123412341234123412341234 97 98 99 1 2 3 4 Finland EU 15 EU 25 15.4.25/SAK /TL Source: Eurostat 22
LABOUR INCOME AS A PERCENTAGE OF NATIONAL INCOME 198 25 8 % 75 7 65 6 Wages and social contributions 55 5 8 82 84 86 88 9 92 94 96 98 2 4* 15.4.25/SAK/TL Source: Statistics Finland Ministry of Finance 23
INCOME DIFFERENCES BETWEEN HOUSEHOLDS 1987 23 Disposable incomes (Index 1987 = 1 14 1987 = 1 13 12 11 1 9 8 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 Index is based on the gini coefficient a higher value of the gini coefficient implies a more unequal income distribution 15.4.25/SAK /TL Source: Statistics Finland 24
WOMENS ANNUAL EARNINGS AS A PERCENTAGE OF MENS ANNUAL EARNINGS 198 23 9 % 85 8 75!!!!!!!!!!!!!!!! 7 65!! 6 8 83 87 89 9 91 92 93 94 95 96 97 98 99 1 2**3** 15.4.25/SAK /TL Source: Statistics Finland 25
TAX RATE 198 25 5 % of GDP 45 4 35 3 8 82 84 86 88 9 92 94 96 98 2 4** 15.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 26
TAX RATE IN SOME COUNTRIES 23 1 22 15.4.25/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 1 2 3 4 5 6 % of GDP Source: OECD Revenue Statistics 27
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 1 2 3 4 5 Includes employees social security contributions Example: a single person with no children 15.4.25/TL Source: OECD Taxing Wages % of gross earnings 28
MANUFACTURING PRODUCTION 1985 25 15 Change in volume % 1 5 5 1 85 87 89 91 93 95 97 99 1 3* 5** 15.4.25 /SAK /TL Source: Statistics Finland Ministry of Finance 29
CONSUMER PRICES IN FINLAND AND EU COUNTRIES 1985 25 6 5 4 7 Change % Finland EU 15 EU 25 3 2 1 9 92 94 96 98 2 4* 5** 15.4.25/SAK /TL Source: OECD 3
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 2 4 6 8 annual change % 15.4.25 /SAK /TL Source: Eurostat 31
INTEREST RATES IN FINLAND 1992:1 25:3 175 15 125 1 75 % Euribor 3 months 1 Finnish government bonds 1 year 5 25 1591591591591591591591591591591591591591 92 93 94 95 96 97 98 99 1 2 3 4 5 1 1992 98 Helibor 15.4.25/SAK /TL Source: Bank of Finland 32
REAL AVERAGE LENDING RATE FOR HOUSING LOANS 1992:1 25:2 14 % 12 1 8 6 4 2 Nominal Real 1591591591591591591591591591591591591591 92 93 94 95 96 97 98 99 1 2 3 4 5 15.4.25 /SAK /TL Source: Bank of Finland 33
HELSINKI STOCK INDEX (HEX 1995:1 25:2 18 28.12.199=1 16 14 12 1 8 6 4 2 1 5 9 1 5 9 1 5 9 1 5 9 1 5 9 1 5 9 1 5 9 1 5 9 1 5 9 1 5 9 1 95 96 97 98 99 1 2 3 4 5 15.4.25/SAK /TL Source: Statistics Finland Bank of Finland 34
CENTRAL GOVERNMENT REVENUE AND EXPENDITURE EXKLUSIVE OF INVESTMENTS 1999 24:11 12 month moving total 32 % of GDP 3 28 Revenue Expenditure 26 24 22 1 5 9 1 5 9 1 5 9 1 5 9 1 5 9 1 5 9 99 1 2 3 4 19.4.25/SAK /TL Source: Bank of Finland 35
CENTRAL GOVERNMENT NET LENDING 1985 25 4 % of GDP 2 2 4 6 8 1 12 1 87 89 91 93 95 97 99 1 3* 5** 19.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 36
CENTRAL GOVERNMENT DEBT 1985 25 8 % of GDP 6 4 2 85 87 89 91 93 95 97 99 1 3** 5** 19.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 37
GENERAL GOVERNMENT EXPENDITURE 1985 25 65 % of GDP 6 55 5 45 4 Finland Eu 15 EU_25 35 85 87 89 91 93 95 97 99 1 3* 6** 19.4.25/SAK /TL Source: Eurostat 38
GENERAL GOVERNMENT NET LENDING (EMU 1985 25 8 % of GDP 6 4 2 2 4 6 8 Finland EU 15 EU 25 85 87 89 91 93 95 97 99 1 3* 5** 19.4.25/SAK /TL Source: Eurostat 39
GOVERNMENT GROSS DEBT (EMU 1985 25 7 % of GDP 6 5 4 3 Finland EU 15 2 EU 25 1 85 87 89 91 93 95 97 99 1 3* 5** 19.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 4
KEY FORECAST FIGURES change % 21 22 23* 24** 25** GDP 11 22 24 37 33 IMPORTS 2 19 27 48 26 EXPORTS 8 51 14 35 4 CONSUMPTION 2 21 34 29 23 Private 18 14 44 32 24 Public 24 38 12 21 21 INVESTMENT 39 31 15 46 44 Private 33 46 3 57 52 Public 81 66 68 11 Services change in volume % 24 21 24 35 29 Manufacturing change in vol. % 2 2 5 53 5 Labour productivity change % 5 16 29 25 25 Employment rate % 677 677 673 672 676 Unemployment rate % 91 91 9 88 84 Consumer prices change % 26 16 9 2 12 Wage and salary earnings change % 45 35 4 34 35 Current account % of GDP 69 74 43 42 39 Interest rates Helibor/Euribor 3 month % 43 33 23 21 23 Interest rates Gov. bonds 1 year % 5 5 41 41 37 General government expenditure % of GDP 492 5 59 57 55 Tax ratio % of GDP 458 456 446 44 436 Central government debt % of GDP 456 424 442 426 49 Central government gross dept % of GDP 438 425 453 451 442 Central government net lending % of GDP 2 14 3 1 7 General government net lending (EMU % of GDP 52 43 23 19 16 19.4.25/SAK /TL Source: Statistics Finland Ministry of Finance 41