Unemployment is now higher than in the recession year 2009, the unemployment rate standing at 9.6 % in July. The employment rate is falling. The rise in unemployment has been widespread, affecting all age groups, although especially the rise in youth unemployment has accelerated during the first half of the year.
Over the past 5 years there has been a soft, if lengthy landing in the Finnish housing market, reflecting the protracted economic downturn. The housing loan cycle in Finland is now passing its second trough after the burst of the global financial crisis. There can be a strong regional divergence in house prices and household indebtedness within countries, too.