Consumers' expectations concerning the unemployment situation for the next 12 months

Last updated 18/06/2020 - 08:01

Consumers believe that the employment situation will worsen

The April Consumer Survey by Statistics Finland shows that consumers are expecting the employment situation in Finland to worsen in the coming 12 months. The balance figure that describes the distribution of answers is -55 for the Helsinki Metropolitan Area as well as the entire country. The value is similar to December 2008, during the financial crisis. Expectations of the future employment situation are at their lowest level in at least 25 years.

Statistics Finland renewed the data collection method of the consumer confidence indicator in May 2019, and the figures are therefore not comparable with previous figures. The age categories of interviewees were altered a little bit and the sample size was reduced somewhat. The data content is also more limited, and all questions now concern the person themselves, not their household. The components of the new confidence indicator are: the consumer’s own current finances, the consumer’s own finances in 12 months, Finland’s economy in 12 months and the consumer’s spending on consumer durables in the next 12 months compared to the previous 12 months.