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2008 OECD Economic Surveys: Finland 2008

image of OECD Economic Surveys: Finland 2008

This 2008 edition of OECD's periodic survey of Finland's economy opens with a chapter examining how Finland can get the most out of Globalisation. It then reviews recent economic performance and examines key economic issues Finland faces including tax policy, the municipal services sector, a better functioning labour market, making tertiary education as good as compulsory education, and accessing and integrating foreign labour.

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A better functioning labour market

Finland’s embrace of the opportunities offered by globalisation has encouraged the emergence of leading edge industries and has facilitated a steady decline in the unemployment rate to around the EU15 average. Nevertheless, participation rates remain below pre-recession levels, especially among certain age groups, youth unemployment remains uncomfortably high, wage setting remains particularly inflexible, and growing labour mismatches and skill shortages are acting as constraints on the economy. While recent governments have taken steps to address some of these issues, Finland’s rapidly ageing population means that these issues need to be tackled with a greater degree of purpose and urgency.

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