2018 OECD ECONOMIC SURVEY OF FINLAND Mari Kiviniemi Deputy Secretary General Helsinki, 28 February 2018 http://www.oecd.org/eco/surveys/economic-survey-finland.htm
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Output and exports are growing strongly
Note: OECD estimates for 2017 exports. Source: OECD National Accounts.
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Unemployment remains high
Source: OECD Labour Force Statistics; and Economic Outlook database. 3
Health reform and higher employment would help stabilise debt
Note: The cost containment scenario assumes that reforms to the provision of health care and social services reduce growth in related spending by half. The higher employment scenario assumes cost containment in age-related spending and a higher employment rate of the population aged 15-64, which rises to 74% in 2030. Source: OECD Economic Outlook database and OECD calculations. 4
GDP per capita and employment rate are below the other Nordics
Source: OECD Economic Outlook database; and OECD Labour Force Statistics database. 5
The tax burden is among the highest in the OECD
Source: OECD Revenue Statistics database. 6
Finland is one of the most equal countries in the OECD
Source: OECD Income Distribution and Poverty Database. 7
Work does not always pay
Unemployed facing tax rates ≼ 80% upon return to work
Note: Incidence of average effective tax rates at or above 80% for individuals going from unemployment to full-time work, calculated on the basis of six household types and five income levels. Source: Pareliussen et al. (2018a). 8
The world of work is changing
1. Based on the analysis of the task content of individual jobs using the OECD Adult Skills Survey (PIAAC). Jobs are at high risk of automation if the likelihood of their job being automated is at least 70%. Jobs at risk of significant change are those with the likelihood of their job being automated estimated at between 50 and 70%. Source: OECD Labour Force Statistics database; and OECD Employment Outlook 2017, OECD Publishing, Paris.
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Reform could enhance work incentives
Note: Individual entitled to unemployment insurance going into work, with hourly earnings pre- and post- unemployment of 67% of the national average wage in the initial phase of unemployment. Means-tested benefits are allowed as topups. Source: Simulations with the OECD TaxBen model, in Pareliussen et al, (2018a).
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A basic income would alter the income distribution
1. Share of individuals in working-age households. Source: Simulations with the TUJA model, in Pareliussen et al. (2018a).
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Compared to other Nordics, employment is low across gender and age Employment gap to Nordics (2016)ยน
1. Difference in employment rates between Finland and the Nordic average (Denmark, Norway, and Sweden), within each age-gender sub-group. Source: OECD Labour Force Statistics Database.
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