In January, the Open Unemployment Fund asked its members how they see their work situation in 2024. Over 3,000 members responded to the questionnaire. A similar survey was conducted in autumn 2023. According to the January results, 33 per cent described their work situation as promising, while in September last year, as many as 41 per cent said the same.
In January, 24 per cent felt concerned about their work situation, while in September the share was 19 per cent. Of the January respondents, 29 per cent were currently unemployed and 14 per cent were about to stop working.
A growing amount of lay-offs is seen at the unemployment fund
The number of lay-offs increased notably during the end of the year 2023, likely causing heightened uncertainty about the employment situation. Compared to the previous year, the share of laid-off employees in 2023 increased significantly. In December applicants, the portion of laid-off people was reaching 40 per cent. Among those receiving an earnings-related daily allowance in 2023, the total share of laid-off persons was 48.9 per cent, while in 2022 the share was 33 per cent. The share of laid-off employees started growing robustly after August and the growth continued until the end of December. The positive side of the increased share of laid-off employees is that the employment relationship is still valid and it is more likely for the work to continue.
By mid-January this year, earnings-related daily allowance has been paid to 20,283 applicants, which is 164 per cent more than during the same time last year. In mid-January 2023, earnings-related allowance had been paid to 12,392 applicants.
The Open Unemployment Fund goes out to workplaces and organises information sessions focusing on unemployment security for those to be laid off or made redundant. The demand for these events has risen significantly towards the end of last year and the beginning of this year, meaning that plenty of new lay-offs or unemployment periods are to be expected. This is likely going to be reflected in the number of applications to be received by the unemployment fund.
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