Unemployment funds 2024: Growth of earnings-related daily allowance expenditure continued in 2024

In 2024, unemployment funds’ earnings-related daily allowance expenditure increased by 9% from the previous year to a total of just under EUR 2 billion. Earnings-related daily allowance expenditure decreased in six funds and increased in eight funds. The largest increase was 26% and the largest decrease was 15%.

 The total number of allowance days paid increased by 6%. The number of allowance days paid decreased by between 1–14% in seven funds and increased by up to 26% in seven funds.

The number of beneficiaries of daily allowances decreased in five funds and increased in nine funds. The largest decrease in the number of beneficiaries in a single fund was 11%, while the largest increase was 24%.

Entrepreneurs’ earnings-related daily allowance expenditure increased by 8%, the number of allowance days paid increased by 9% and the number of beneficiaries increased by 4%.

Job alternation compensation expenditure was just under EUR 50 million. This represented an increase by 96% compared with the previous year, and the number of people receiving job alternation compensation increased by 63% compared with the previous year.

In 2024, unemployment funds paid commuting and relocation allowances totalling EUR 2.8 million – around 3% less than in 2023.

Since the beginning of 2023, people who have reached the age of 55 have been entitled to transition security allowance, if they meet the conditions. In 2024, transition security allowance amounting to just over EUR 12 million was paid out to a total of 3,000 people. The increase in euro terms compared with the previous year was 143%, which is largely explained by the newness of the allowance. After a transitional period, the transition security allowance will fully replace allowances paid for additional days.

In 2024, the processing times of applications for earnings-related daily allowance were relatively stable. The processing times of approved applications for full earnings-related daily allowance peaked in the first quarter at 11 days on average. The average processing time across all funds in 2024 was 9 days.

The number of members in wage-earner funds remained practically unchanged from the previous year. The largest increase in the number of members of a single fund was 2% and the largest decrease was 7%. The number of members in the Entrepreneur Fund fell by around 600 members.

The data presented are based on the FIN-FSA’s Finnish-language online publication on unemployment funds – Työttömyyskassat 2024.

For further information, please contact:

Dima Matjushin, Information Specialist, tel. +358 9 183 5588.

Appendix

Työttömyyskassat 2024 (link) (in Finnish, pdf and Excel tables)