The results of the LFS June 2023 and changes compared to the previous year should be interpreted with some caution, since the analysis of the labour market during the summer months is more complicated than for other periods of the year. In particular for young people aged 15-24, where there is an increase of the number of unemployed persons, especially among the full-time students. In order to determine the changes, at least one more measurement is required.

Labour force

In June 2023, the number of people in the labour force aged 15–74 was 5 940 000, not seasonally adjusted. It is an increase of 103 000 compared to the corresponding month last year. The number of women in the labour force was 2 830 000. The number of men in the labour force was 3 110 000, an increase of 58 000. The relative labour force participation rate amounted to 78.5 percent, an increase by 1.1 percentage points. Among women it was 76.0 percent. Among men it was 80.9 percent, an increase by 1.3 percentage points.

Seasonally adjusted and smoothed data shows an increase in both the number and the share of persons in the labour force compared with recent months. The number of people in the labour force amounted to 5 722 000, corresponding to a labour force participation rate of 75.5 percent.

Employment

In June 2023, there were 5 394 000 employed people aged 15–74, not seasonally adjusted. The number of employed women was 2 564 000 and the number of employed men was 2 830 000. The employment rate amounted to 71.3 percent. Among women the employment rate was 68.9 percent, and among men it was 73.6 percent.

For seasonally adjusted and smoothed data, the number of employed people aged 15–74 amounted to 5 294 000 and the employment rate was 69.9 percent. This is an increase in both the number and the share of employed persons compared with recent months.

Employees

In June 2023, there were 4 857 000 employees, of which 2 415 000 were women and 2 443 000 were men, not seasonally adjusted data. There were 4 066 000 permanent employees, an increase of 128 000. Among permanent employees the number of women was 1 977 000, an increase of 84 000, and the number of men was 2 089 000. The number of temporary employees amounted to 791 000, which is a decrease by 73 000 people. There were 437 000 temporarily employed women and 354 000 men.

For seasonally adjusted and smoothed data, the number of employees increased compared to recent months and amounted to 4 772 000. The number of permanent employees was 4 054 000 and the number of temporary employees was 718 000. Compared with recent months, seasonally adjusted and smoothed data shows an increase in the number of permanent employees.

Hours worked

The average number of hours worked in June 2023 amounted to 158.3 million per week, not seasonally adjusted.

According to seasonally adjusted and smoothed data the number of hours worked amounted to 158.4 million per week.

Unemployment

In June 2023, there were 547 000 unemployed people aged 15–74 years, not seasonally adjusted. The unemployment rate amounted to 9.2 percent. The number of unemployed women was 266 000. The number of unemployed men was 281 000, an increase of 48 000 people. The unemployment rate for women was 9.4 percent. The unemployment rate for men was 9.0 percent, an increase of 1.4 percentage points. The number of long-term unemployed (unemployed for at least 27 weeks) was 107 000, a decrease by 32 000.

There were 267 000 unemployed young people aged 15–24, not seasonally adjusted, which is an increase by 48 000 persons compared to the corresponding month last year. The youth unemployment rate was 29.9 percent. Among unemployed young people, 154 000 persons were full-time students, which is an increase by 61 000 people.

For seasonally adjusted and smoothed data the number of unemployed increased compared with recent months and amounted to 428 000 among people aged 15-74. The unemployment rate also increased and amounted to 7.5 percent. Among young people aged 15–24, seasonally adjusted and smoothed data shows that the number of unemployed amounted to 152 000, which is an increase compared with recent months. The unemployment rate among young people was 21.8 percent.

Unused labour supply

Unemployed people, underemployed people and latent job seekers together constitute the unused labour supply. In June 2023, the unused labour supply averaged 26.4 million hours per week. The unused labour supply corresponds to 660 000 full-time employments with 40-hour work weeks.

2023-08-25, 08:00.