FINNISH FINANCIAL REPORT
Table of Contents
1 Describing Finnish economy using key economic indicators 1
2 Finnish economy for the moment 2
3 Factors that are/were hindering/supporting economic growth 3
3.1 Positive factors affecting Finnish economy 3
3.2 Negative factors affecting Finnish economy 4
4 Business cycle for the moment 4
5 Comparing Finland to Euro Zone and US 5
6 Important indicators 5
7 Finnish economic future 7
7.1 Household assets in Finland now and in the future 7
7.2 Companies in industry and service sectors 7
7.2.1 Companies in industry sector 7
7.2.2 Companies in service sectors 8
7.3 Government finances 8
8 Bibliography 10
1 Describing Finnish economy using key economic indicators
According to the official website: Statistics Finland, the future is looking a bit brighter than what we have been experienced since the recession of 2009 thus far.
Some key statistical data has been given on the website, and the situation is as follows:
• Industrial output - As one the most important pillars of a country’s economy, we chose to mention it first in our statistics section: Industrial output of Finland has been decreasing in the last period, namely in March 2014, just a month ago, the industrial output has decreased by 5% YoY. In the chart you will find below, you can see all the main industrial output factors sorted by industry they belong to, which have all been decreasing except chemical industry which is the only sector that has been growing in the recent months.
• Unemployment rate – According to statistics, the unemployment rate has gone up since the last year, and is currently sitting at 9,5% in March 2014, as opposed to figure of around 9% in the same period last year.
Thi...
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...uarter of 2013. During 2013, the growth has been 8.6 billion €. All of these indicators sum up to a rela-tively positive outlook for future, and as the experts say, we can hope for the best.
8 Bibliography
Various websites providing relevant and up-to-date information on the topics contained in this report.
• The material provided during the course, and our Moodle website
• http://www.bbvaresearch.com/KETD/ketd/ing/nav/tematicas/analisis_macroeconomico/historico/flash/coyuntura/index.jsp
• http://www.stat.fi/til/khi/2014/03/khi_2014_03_2014-04-14_tie_001_en.html
• http://www.stat.fi/til/tyti/2014/03/tyti_2014_03_2014-04-24_tie_001_en.html
• http://economics.about.com/od/unemployment-category/a/Measuring-Unemployment.htm
• http://www.blancco.com/en/company-info/press-releases/2013/strongest-company-in-finland-award/
• http://www.tilastokeskus.fi/
State of the Economy is apart from the geopolitical and other uncertainties; the forces affecting demand this year appear, on balance, conducive to a moderate strengthening of the economic expansion.
“Student Financial Aid in Finland.” Ministry of Education and Culture. Ministry of Education and Culture, n.d. Web. 2 Oct. 2013. .
To begin with, there is a big relation between unemployment and GDP. Employment represents a necessary condition, not sufficient however, which guarantees a social stability. Conversely, a society in which a large part of the population is unemployed, is in the process of disintegration for a simple reason: the individual socially exists in the trading system only if he has an economic value, otherwise if his working capacit...
Simply put unemployment is basically the act of not being employed. In the United States there are several different ways that one can label being unemployed based on the economy of our country at the time. Throughout history we have gone through many different depressions, recessions, and hard times all together. The first major hit this country took was when the stock markets crashed and sent the economy straight down into the sewers. It was called the Great Depression. Many people suffered and it caused suffering this country had never seen before, so many people fell to poverty level. This depression lasted from 1929 to 1941. Most recently America went through what is now called the Great Recession. This started in 2007 and ended June 2009. The general cause was due to the general decrease in the global markets around the world and was the greatest economic turnover since the Great Depression. This nineteen month long recession was what brought about the unemployment status that America is still adjusting too. The unemployment rate reached anywhere from 10 to 15% which is particularly high for our country to endure. By June 2010, the United States government decreased the unemployment rate down to 5%.
This source is a chart with statistics directly from the Bureau of Labor Statistics regarding unemployment rates in the U.S. in 2010 and 2011 It separates the population by age, sex, race and ethnicity. This information is geared towards people looking for precise numbers and statistics because it give the data but does not explain the numbers to the readers.
Additionally, unemployment rate consists of 8.6% of the city. The rate is constantly increasing each year. Unemployment is higher in the East rather than the West. Initially, the highest group of unemployed are people 50 and older. Although unemployment cause little to no effect on the overall city, it can genuinely increase overtime.
The current state of the economy in the United States has been slow in recent months. While the economy is not currently in a recession, we may eventually fall victim to the first recession we’ve had in nearly ten years. The economy in general is showing growth, just not much. It will be difficult to predict what exactly will happen to the US economy in the future. Many economists do not agree on what will become of the economy. Some feel that we will begin a recession over the next year, and some feel that there is significant policy implementation that will allow us to dodge a recession and regain our economic strength. There are many factors that make up the US economy. The means in which I will discuss the overall growth and current status of the economy is by analyzing the Gross Domestic Product, and discuss the factors that cause it to rise and fall.
Persistently high unemployment creates huge costs for individuals and for the economy as a whole. Many of these costs, especially the long-term social costs, are difficult to assess by measuring.
Australian employment growth is slowing sharply in early 2018. The current unemployment rate is 5.6 %. The vast majority of workers still work fulltime. While part-time workers accounted for 26 per cent of the workforce in 2000, today that proportion is 32 per cent.
Unemployment Rate: The FOMC observed that the labor market conditions had improved considerably. Unemployment rate, which is widely considered as a good economic indicator of labor market has edged down to 5.8% in October and stayed stable in November. Furthermore, this is supported by the fact that the employment-to-population ratio rose slightly. The increase in private sector job openings, decrease in part-time workers and increase in hiring rates further provide concrete evidence that labor markets has improved considerably.
Unemployment is everywhere in the U.S today. Whether it’s a small or big job people still are unable to find jobs. Then again some people file for unemployment if they are going through a tragedy and you just can’t seem to be able to work anymore. All of this, meaning unemployment has to do with the business cycle. There are four stages of the business cycle and they are recovery, peak, recession, trough. These are all stages whether the economy is at its highest point, lowest point, or just staying the same. The peak is the highest stage that the economy can possibly reach. Recession is where the economy becomes to struggle and start dropping off. The trough is the lowest point the economy can reach. Recovery is where we begin to build the economy back up after being in a trough. I believe that today our U.S economy is at its peak but beginning to recess.
The unemployment rate became a hot topic in the past few months when it rose to
experiencing growth rates in GDP per head at around 6% to 7% compared to the 2%
Unemployment rates is the number of unemployed people divided by the number of people in the labor force. According to IndexMundi (2018), the unemployment rate of whole world in year 2017 is 7.9%, which was increased 0.6% compare with year 2016.
History of unemployment in UK: This is central history for both economy and social in the UK. Unemployment started to fall again if we compare with the period of time. The rate of unemployment was less than two million at around 1.7 million through the year between 1990 to 1999. This figure continued to fall until 2005. The rate of unemployment was decreasing by 1.397 million in till 2005. But this rate of unemployment again started to rise up in last two years when Blair was government and by 2008 Gordon Brown was lifting with a worldwide recession and joblessness figures back up to 1.79 million the top for a decade. In may 2010 unemployment had risen to more than 2.5 million. The Prime Minister David Cameron said un...