Open Unemployment Fund’s mid-May application figures indicate a downturn in the number of applications for earnings-related allowance. The numbers decreased 16% from mid-April. The share of laid-off persons likewise looks to be in decline, with their share standing at 19% of all recipients by mid-May. This is in contrast with the early part of the year when the share of laid-off persons steadfastly remained at over 40%. A-kassa’s member survey also indicates that its members’ employment situation has improved.
Based on mid-May data, the number of applications is decreasing. In mid-May, the number of earnings-related allowance recipients stands at 17,404 members which is 3,228 less than in mid-April. By mid-April, a total of 20,632 members had received earnings-related allowance, with the figure reaching 32,619 by the end of April.
The share of laid-off persons of all earnings-related allowance recipients has remained high since last autumn, exceeding 40% throughout the early part of 2024. This trend appears to be shifting in May, with the share of laid off-persons standing at 19% by mid-May.
Member survey also showing signs of promising development
Open Unemployment Fund published the results of its survey conducted in April, indicating a promising development in its members’ employment situation. Of the 4,000+ members that responded to the survey, 40% characterised their employment situation this spring as ‘promising,’ a marked improvement from the same number in January: 33%. In spring 2023, as many as 54% of all members considered their employment situation promising, with the figure dropping to 41% in September.
While some members are still concerned about their employment situation, the number of concerned members decreased slightly from 24% to 22% between January and April. The share of members about to lose their job has likewise decreased from January’s 14% to 11% in April. 26% of respondents reported their status as unemployed at the time of the survey.
– I hope the positive indications this spring are early signs of economic recovery. It is a relief to see that our members are seeing positive developments and that many of our members feel that their employment situation has improved, says Open Unemployment Fund’s Benefit Manager Kaisa Tikka.
We typically see the number of earnings-related allowance recipients decrease between March and summer. In the early part of this year, however, we have seen the number remain unusually high. It plateaued in April, however, and May figures are showing a clear decline in the number of applicants.
