| 13.05.2020

Helsinki GSE: The number of layoffs has continued to grow strongly

The Helsinki GSE Situation Room states in its latest report that the number of layoffs has continued to grow strongly. The report is presented at an open access webinar in Zoom on Thursday, 14 May at 8 am.

The Helsinki Graduate School of Economics (Helsinki GSE) has established a situation room to support ministries and other public authorities in economic policy-making during the coronavirus crisis.

The Situation Room will publish its fifth report on Thursday 14 May 2020 at 8 am, and a webinar on the topic will also start at this same time in the Zoom app (link below). This fifth report deals with and illustrates the following:

  • The number of unemployed has increased moderately, the number of layoffs continues to grow strongly
  • The lost amount of salary is approximately 4%
  • The number of companies carrying out layoffs has continued to grow in all sectors and regions
  • Differences in sectors between the number of layoffs and dismissals are greater than regional differences
  • When the business structure and company size are standardised, the greatest number of applications for Business Finland subsidies have been made in the Uusimaa, North Ostrobothnia and Pirkanmaa regions.
  • When regional differences and company size are standardised, the greatest number of applications for Business Finland subsidies have been made by the following sectors: recreational activities, communications and accommodation and restaurant services
  • There is a moderate increase in the number of corporate tax liabilities, but there are no changes in the number of taxable companies and payment arrangements with the Tax Administration

Link to the webinar on Thursday 14 May at 8 am: https://aalto.zoom.us/j/63759467412

The weekly webinars will be held in Finnish; they are open to everyone and free of charge.

More information on the Situation Room and its latest public reports can be found on the Helsinki GSE website.
 

Additional information:
Otto Toivanen
Aalto University, Professor
Helsinki GSE, Academic Director
+358 50 353 7651
otto.toivanen@aalto.fi

Helsinki Graduate School of Economics is a joint teaching and research unit in economics of Aalto University, University of Helsinki and Hanken School of Economics.

Information about the previous reports on Hanken's website:

Helsinki GSE's Situation Room starts publishing a weekly report on the effects of coronavirus

Lay-offs and redundancies caused by the corona crisis have hit employees in different ways

Unemployment among the self-employed has increased considerably more than unemployment among employees

The growth in the number of applications for unemployment benefit paid by Kela has been greatest in the Uusimaa region